Why Nvidia Shares Rose on a Down Day
Nvidia (NASDAQ: NVDA) shares have taken it on the chin lately, down 32% in just the past month. But the stock is bucking the trend today, with shares up 1.4% when the technology-filled Nasdaq Composite index was down about 1% as of 3:45 p.m. ET.
Nvidia pre-announced for a disappointing quarter, and it was worse than some investors even thought when it announced results in late August. Shares had dropped on the pre-announcement, but continued to plunge to 52-week lows after its fiscal 2023 second-quarter results were shared for the period ended July 31, 2022. Revenue from the company's gaming segment plunged 33% year over year.
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Source Fool.com
