Breaking: Jensen Huang has resigned as Nvidia CEO and from the board; the stock is down 11.8% premarket at $153.15.
→ CFO Colette Kress steps in as interim CEO while the search for a permanent CEO gets underway
→ Harvey Jones, a board member since 1993, takes over as chairman
→ Roughly $500B in market value wiped out since yesterday's $173.73 close; down 37% from the Oct. 6 peak
I think the uncertainty is now priced in; the real question is the roadmap without Huang.
Worst case: if earnings land before a permanent CEO is named, $150 won't hold as the bottom and the selling spreads across the chip basket; watching the open.
#Stocks #AI #Semiconductors
Watching: $NVDA $SMH $QQQ
→ CFO Colette Kress steps in as interim CEO while the search for a permanent CEO gets underway
→ Harvey Jones, a board member since 1993, takes over as chairman
→ Roughly $500B in market value wiped out since yesterday's $173.73 close; down 37% from the Oct. 6 peak
I think the uncertainty is now priced in; the real question is the roadmap without Huang.
Worst case: if earnings land before a permanent CEO is named, $150 won't hold as the bottom and the selling spreads across the chip basket; watching the open.
#Stocks #AI #Semiconductors
Watching: $NVDA $SMH $QQQ
