Traders work on the New York Stock Exchange trading floor during morning trading on Oct. 8, 2024.
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Shares of Nvidia were volatile in early trading Thursday as the company released its latest quarterly results.
this Dow Jones Industrial Average It fell 58 points, or 0.1%. this S&P 500 Index down 0.2.4%, Nasdaq Index It fell 0.4%.
NVIDIA report It beat expectations for third-quarter results and issued strong guidance after the bell on Wednesday. But the artificial intelligence chip giant’s shares, which have risen more than 190% this year, initially fell in pre-market trading. Some traders cited the chipmaker’s slower revenue growth from previous quarters as a cause for concern. Or the chipmaker didn’t beat the most optimistic estimate in its forecast for next quarter.
The stock then rose as investors bought the dip and most Wall Street analysts were optimistic about the earnings report and raised their price targets. However, the rally was short-lived, with the stock ending up essentially flat.
Eric Clark, portfolio manager of the Rational Dynamic Brands Fund, said of Nvidia: “Investors will probably buy any stock that’s weak, but if you don’t have big good news in a few quarters, you’re going to need good news and a raise every quarter.” of traders may reduce investments “When growth and momentum investors leave a stock, they often leave a trail. “
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Cryptocurrency markets also boosted sentiment. Bitcoin Breaking through the $98,000 mark Investors late Wednesday remained hopeful that a second term as President Donald Trump would bring supportive regulations to the industry. The last transaction price was approximately $97,451.
