Nvidia shares fall after CEO resignation, impact on investors noted
According to CBC, Nvidia's shares fell sharply on November 13 in the United States after CEO Jensen Huang resigned, dropping 14% intraday and closing 4. 3% lower, prompting analysts to assess effects on index-linked investments. Earlier in the week, The New York Times reported that Nvidia's stock slipped more than 4% on November 5 after Huang stepped down. BNN Bloomberg said the shares fell about 5% on the same day. Proactive financial news noted that major U. S. indexes opened lower following the resignation.
The Globe and Mail said Baird and Morgan Stanley downgraded Nvidia amid the controversy, with Morgan Stanley removing it from its Top Pick list. Moneycontrol. com reported that Baird cut the price target to $200 and changed the rating to neutral. 24/7 Wall St. cited Jim Cramer, who called Nvidia the cheapest stock in roughly a decade as the shares fell 22% over the past month. The Motley Fool reported a near-10% tumble ahead of the fiscal Q3 earnings report and highlighted a board-initiated investigation. Yahoo Finance said Microsoft reclaimed the world’s second-largest market valuation on November 10 after Nvidia’s shares slid more than 6%.
