Nvidia's market value evaporated by 1.4 trillion overnight

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2024-07-31 17:44Published in Guangdong

Nvidia's stock price started to plummet.

On July 30, local time, the three major U.S. stock indexes closed mixed.

At the close, the Dow closed up 203.40 points, or 0.50%, at 40,743.33, the Nasdaq was down 222.78 points, or 1.28%, at 17,147.42, and the S&P 500 was down 27.11 points, or 0.50%, at 5,436.44.

Big tech stocks fell, with Microsoft down 0.89%, Tesla down 4.08%, Google up 0.45%, Amazon down 0.81%, and Meta down 0.54%.

Nvidia fell 7.04% to $103.73, and its market value evaporated about 1,402.4 billion yuan overnight.

Source: Video screenshot

Founded in 1993, NVIDIA is an United States multinational technology company headquartered in Santa Clara, California.

英伟达由黄仁勋、克里斯·马拉科夫斯基(Chris Malachowsky)和柯蒂斯·普里姆(Curtis Priem)共同创立。

In the past year, Nvidia's stock has soared.

After the stock split, Nvidia's stock price at the beginning of 2023 is about 14 yuan, and on June 20, 2024, Nvidia's stock price hit an intraday high of $140.76 per share.

In more than 1 year, Nvidia's stock price has risen 10 times.

However, while everyone was partying, Nvidia CEO Jensen Huang began to reduce his holdings aggressively.

According to the latest regulatory filings disclosed by the United States SEC, Huang sold 120,000 shares of Nvidia on June 13, June 14, June 17, June 18, June 20 and June 21 local time.

On July 15 and July 16, Nvidia shares worth $30.6 million were sold again at prices ranging from $126.34 per share to $130.34 per share.

Over the past month or so, Huang has sold Nvidia stock more than 10 times.

Nvidia's stock price has plummeted since July 11, and the company's stock price has fallen by more than 20% in more than half a month.

Source: Straight Flush data

Regarding Nvidia's decline, Todd Sohn, ETF and technology strategist at Strategas Securities, said: "It's more painful than what Nvidia is used to in the last eight months. It's never fun when the best stocks correct like this. ”

Author | Zhang Xiaolei

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