One CEO apology just turned into a lawsuit, a Congress deadline, and a $1.16B crypto flush. This week is getting messy.
Nvidia's board opened an independent probe after Jensen Huang told staff he had been unfaithful to his wife. Then on Monday, Nvidia and Huang got hit with a proposed securities class action, and three House committee chairs asked Huang to sit for a closed-door briefing on November 18. He has to answer by tomorrow, November 11. Right in the middle of it all, Nvidia reports Q3 earnings on November 17.
The market already reacted once. NVDA dropped over 4% pre-market on Monday, and the tech selloff spilled straight into crypto, $1.16B in liquidations in 24 hours, most of it longs. BTC is still sitting around $74,700 trying to hold the line.
The board says it has no reason to believe any secrets were compromised, but the probe is still open and Congress is not letting this go. For a company worth about $4.5 trillion, that is a lot of uncertainty to price in one week.
$NVDA holders, are you holding through the noise or waiting for the November 17 earnings to decide? #NvidiaInvestigatesAfterHuang’sAffairApology
Nvidia's board opened an independent probe after Jensen Huang told staff he had been unfaithful to his wife. Then on Monday, Nvidia and Huang got hit with a proposed securities class action, and three House committee chairs asked Huang to sit for a closed-door briefing on November 18. He has to answer by tomorrow, November 11. Right in the middle of it all, Nvidia reports Q3 earnings on November 17.
The market already reacted once. NVDA dropped over 4% pre-market on Monday, and the tech selloff spilled straight into crypto, $1.16B in liquidations in 24 hours, most of it longs. BTC is still sitting around $74,700 trying to hold the line.
The board says it has no reason to believe any secrets were compromised, but the probe is still open and Congress is not letting this go. For a company worth about $4.5 trillion, that is a lot of uncertainty to price in one week.
$NVDA holders, are you holding through the noise or waiting for the November 17 earnings to decide? #NvidiaInvestigatesAfterHuang’sAffairApology
