Nvidia Stock Plunges Over 7%, Marking Largest Drop Since April

IconCryptoNewsTerminal Staff17 Jul, 2024

cryptonews.jpg

Nvidia Stock Plunges Over 7%, Marking Largest Drop Since April

Nvidia's stock price took a significant hit during Monday's trading session, plummeting by more than 7%. This marks the largest single-day drop for the company's stock since April 19th, raising concerns among investors. The decline comes amidst a broader market sell-off, with tech stocks particularly hard hit. Analysts attribute the drop to a combination of factors, including concerns over the company's growth prospects and the impact of the ongoing chip shortage. Despite the recent decline, Nvidia stock remains significantly higher than its pre-pandemic levels, reflecting the company's strong performance in recent years.

Related News