"... Compounding Nvidia's woes is the recent sale of nearly $95 million worth of shares by its founder and CEO, Jensen Huang, under his Rule 10b5-1 trading plan. This sell-off, coming just before the company's annual shareholder meeting, has not helped investor sentiment. Moreover, Nvidia's 10-for-1 stock split, designed to attract retail investors, may have inadvertently spurred profit-taking among those new shareholders.
Paul Meeks, co-CIO at Harvest Portfolio Management, attributed the drop to profit-taking and concerns about the sustainability of AI data center spending. Speaking with Yahoo Finance, Meeks noted that Nvidia still appears undervalued compared to Cisco during the dotcom boom but cautioned that the stock could face continued pressure until it stabilizes around a support level like the 50-day moving average. ..."
June 25, 2024
Nvidia's Market Cap Plummets by $500 Billion in Historic Three-Day Decline
https://www.btimesonline.com/articles/1 ... ecline.htm