Why Nvidia Stock Popped, Then Dropped, Today
The tech-heavy Nasdaq took off like a rocket this morning, and took semiconductor stock Nvidia (NASDAQ: NVDA) along for the ride. Just after noon ET, however, the rally started to sputter, and by the time trading for the day was done, not only had the Nasdaq given up all its gains, but Nvidia stock closed down 3.7% for the day.
So what went wrong? In the case of the Nasdaq as a whole, I fear that investors may have jumped the gun, presuming that after the Nasdaq met the definition for a stock market correction (down 10% from its high), the light would turn green for tech stocks to resume marching higher again.
No such luck.
Source Fool.com
