NVDA gave back all of its gains for the day and ended up down: it had just risen 2.87% during the day to close at $173.73, then fell more than 8% after hours to around $159.59.
The New York Times says Jensen Huang had a second relationship with a subordinate executive. The Wall Street Journal says the board is preparing to remove him and could meet as soon as today. The company has yet to respond, and he has no clear number-two successor.
Money is still rotating within AI stocks. Nasdaq 100 futures reopened down 0.8%. AMD rose 4.40% after hours, after gaining 7.32% during the day, and Broadcom also rose 2.7% after hours.
At yesterday’s close, I set a trigger: if it broke below $170.77 again, I’d downgrade “absorption” to “delayed pricing.” It has already broken that level after hours, so the thesis that absorption was the main factor has failed. I’m staying out for now. Only if it recovers above $170.77 at Thursday’s open would that mean the panic went too far. If it can’t hold, delayed pricing is confirmed.
The New York Times says Jensen Huang had a second relationship with a subordinate executive. The Wall Street Journal says the board is preparing to remove him and could meet as soon as today. The company has yet to respond, and he has no clear number-two successor.
Money is still rotating within AI stocks. Nasdaq 100 futures reopened down 0.8%. AMD rose 4.40% after hours, after gaining 7.32% during the day, and Broadcom also rose 2.7% after hours.
At yesterday’s close, I set a trigger: if it broke below $170.77 again, I’d downgrade “absorption” to “delayed pricing.” It has already broken that level after hours, so the thesis that absorption was the main factor has failed. I’m staying out for now. Only if it recovers above $170.77 at Thursday’s open would that mean the panic went too far. If it can’t hold, delayed pricing is confirmed.