Nvidia Opens 14% Lower, Closes Down 4.5% as Kress Takes Interim CEO Role
NVDA is trading near its 52-week low of $148.8 (13% above the low) on elevated volume (5.2× avg).
Summary
Nvidia shares opened 14% lower Thursday after CEO Jensen Huang's resignation and recovered to close 4.5% down once CFO Colette Kress was named interim CEO. The move follows the Nov 11 Reuters report on the board's plan to remove Huang and the Nov 12 8-K confirming his immediate exit, and the US Senate Banking Committee chair has called on Huang and Lutnick to testify, while Trump had urged Huang to fight for his job. Contagion spread to Nvidia-backed neoclouds: CoreWeave fell as much as 16% before closing 7% lower, and Nebius dropped 17% after trimming its sales outlook. Competitors absorbed the rotation, with AMD and Broadcom each up over 5% and Alphabet 2% higher. Broader tape was weak for unrelated reasons — the Dow fell nearly 200 points as Brent crude rebounded toward $96 and the 10-year yield jumped to 5.13% on hawkish Fed commentary.
At the time of this announcement, NVDA was trading at $167.69 on NASDAQ in the Technology sector, with a market capitalization of approximately $4T. The 52-week trading range was $148.80 to $243.37. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: CNBC TV18.