Nvidia’s Stock Plunges as Much as 19% as ‘Crypto Hangover’ Weighs on Revenue Growth-3.26

Nvidia’s stock plummeted as much as 19% Thursday after reporting weaker-than-expected revenue, as the company’s CEO admitted being surprised by a “crypto hangover” that is worse and longer-lasting than expected.

Nvidia had been one of the hottest technology stocks in recent years. Last month, its stock reached an all-time high of $289.36 a share, marking a gain of 1067% in three years. Part of that rally was driven by speculation, but most of it came from surging demand for its high-powered graphics chips, which are used in gaming devices, data centers and to power crypto-mining operations.

Original source

Add comment

Please Sign in to be able to leave comments.