• Fri. May 3rd, 2024

Nvidia’s Significant Drop Below 50-Day Average and Key Player in AI Industry”.

BySamantha Jones

Apr 20, 2024
Nvidia’s Shares Drop Sharply Amid Overall Market Decline

Nvidia (NVDA) experienced a significant drop on Friday, falling below its 50-day average as the overall market also declined. The stock traded as low as 298.06 at the end of May 2023, after reaching a high of 974 on March 8 this year, which was its last buy point before its decline starting on March 26.

Shares of the AI chip giant, Nvidia, fell by 10% to 761 in afternoon trading, joining Super Micro Computer (SMCI) stock in leading the market downturn. Both stocks showed sell signals in Friday’s trading.

Nvidia stock dropped 10% below its 10-week moving average, indicating a clear sell signal to either partially lock in profits or completely exit a position with minimal gains. This move is significant as Nvidia has been a key player in the artificial intelligence industry, being the top AI-chip manufacturer.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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