Bussiness
Nvidia Stock Plummets In Broad Market Sell-Off
Nvidia (NVDA) plunged Friday, falling sharply below its 50-day average as the broader market retreated. Nvidia stock is down sharply from a March high, about 22% off as of Friday afternoon.
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Nvidia Stock Joins Fellow AI Play
Shares of the AI chip behemoth dropped 10% to 761 in late afternoon trading, joining Super Micro Computer (SMCI) stock in setting the pace for the market slide. Both stocks flashed sell signals in Friday trades.
Nvidia stock sank 10% below its 10-week moving average. That’s a clear sell signal to lock in at least partial profits or completely close a position that has only a modest profit.
Nvidia stock has led the artificial intelligence boom, as the top AI-chip maker. It traded as low as 298.06 at the end of May 2023. On March 8 this year it hit a 974 high, which was its most recent buy point before it began fading on March 26.
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