Retail buyers limit Nvidia stock rout
Retail investors bought Nvidia's stock decline on Thursday, showing the AI trade remains strong despite CEO Jensen Huang's resignation. The AI-focused company's market value dropped $550 billion over the week, driven initially by worries about Huang's alleged affair with a company executive. After hitting a low of 14% at the market's opening, retail buyers quickly stepped in and drove Nvidia's rebound.
This behavior in the market has been observed since the end of the financial crisis in 2009 and is seen as reinforcing healthy market dynamics. Portfolio manager Jed Ellerbroek said that Nvidia's new management, post-Huang's departure, might struggle to recover from the initial dip following their first conference call.
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- Jensen Huang’s downfall cut the P/E of Nvidia stock by a third. But don’t call it a bargain yet fortune.com
- Retail buyers limit Nvidia stock rout channelnewsasia.com
- Retail buyers limit Nvidia stock rout investing.com
- Nvidia’s stock is on sale after Jensen Huang’s exit. But is the selloff just beginning? marketwatch.com
- Meet the contenders to succeed Jensen Huang ft.com
- ‘It had to happen’ — Jim Cramer on Jensen Huang’s resignation and future for Nvidia stock cnbc.com
