Nvidia falls while U.S. stocks and chip shares rally on Nov. 9
· 2 sources
Bloomberg and Financial News report Nvidia sank on Nov. 9 even as the broader U.S. market and semiconductor shares rose, with the fear gauge dropping.
What happened
U.S. stocks rose sharply on the 9th, local time, even though Nvidia, long seen as a bellwether, moved lower, according to South Korea's Financial News. Bloomberg describes the day as a historic split between Nvidia and the S&P.
Financial News reports that gains were led by strength in semiconductor shares, and that the major indexes closed up in the 2% range. It adds that the so-called Wall Street fear gauge fell by more than 22% that day, and that the SOXL fund jumped 22%.
Bloomberg's headline frames the divergence as Nvidia sinking while the wider market soared.
Context
Nvidia is one of the largest companies in the U.S. market and a major influence on the performance of major stock indexes and the semiconductor sector.
Why it matters
A sharp gap between Nvidia and the broader market may draw attention to how leadership in chip stocks and the overall index is shifting.
Stocks in this story
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
$157.25Fair range: $115.15 to $214.75The price ($178.60) is 13.6% above that figure.
Chance of a rise in 1 month
48%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $162.55 and $194.18; 9 in 10, between $138.84 and $227.33.
Fair value, probabilities and earnings for every stock. Free account, no card. Information, not advice.
Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer
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