Why Nvidia Stock Dropped Again Today
For five long days, it looked like the stock of Nvidia (NASDAQ: NVDA) could do no right, falling steadily day after day. But yesterday, analysts at KeyBanc threw it a lifeline.
KeyBanc noted strong demand for cloud computing services and that sales of Nvidia's semiconductors (which help with cloud computing) seemed to participate in that growth. That caused Nvidia shares to break their five-day losing streak on Wednesday, closing the day 7.5% higher.
But today, the stock is giving back nearly all its gains, and as of 12:45 p.m. ET, it was down 6.1%.
Source Fool.com
