Why Nvidia Stock Continued to Slide Today
There has been an ongoing rotation in the stock market, and one of the losers has been previously high-flying Nvidia (NASDAQ: NVDA). Shares of the leading artificial intelligence (AI) chip and software maker continued to drop on Tuesday.
Today, shares fell more than 8% before paring some of that drop. At the intraday low of about $102.5 per share, the stock was down more than 25% from its recent June intraday high of more than $140. As of 2:15 p.m. ET, shares were still lower on the day by 5.6%.
But a sector rotation might not be the only factor driving the drop. It's true that investors are moving out of the large tech companies and into previously lagging small-cap stocks as they prepare for the first interest rate cuts since 2020.
Source Fool.com
