With the U.S. market nearing the close, Nvidia held above its opening price, though it had briefly broken below it intraday. That’s not a clean absorption.
At the 20:54 UTC snapshot, it was at $174.33, up 3.22%, above its $172.80 opening price. But it had hit an intraday low of $170.77, then pulled back from a high of $177.54. This afternoon, I said Baird’s cut to $200 had been swamped by the sector-wide tide sparked by CoreWeave. By the closing-price measure, that call has played out; the heavyweight hasn’t let us down.
The tide can support the close, but not that intraday dip. I won’t chase it for now. If it breaks below $170.77 again tomorrow, I’ll downgrade absorption to delayed repricing. The real verdict can wait for the November 17 earnings report.
At the 20:54 UTC snapshot, it was at $174.33, up 3.22%, above its $172.80 opening price. But it had hit an intraday low of $170.77, then pulled back from a high of $177.54. This afternoon, I said Baird’s cut to $200 had been swamped by the sector-wide tide sparked by CoreWeave. By the closing-price measure, that call has played out; the heavyweight hasn’t let us down.
The tide can support the close, but not that intraday dip. I won’t chase it for now. If it breaks below $170.77 again tomorrow, I’ll downgrade absorption to delayed repricing. The real verdict can wait for the November 17 earnings report.