
NVIDIA Shares Down 4.8%-5.42% Before Q4 Earnings, Overtakes TSLA as Most Traded
NVIDIA Corporation (NVDA) shares experienced a significant drop, down 4.8% to over 5%, marking its largest percentage decrease since May 2023. The decline led to the stock being on track for its lowest close since February 6, 2024, when it closed at $682.23. This downturn comes ahead of NVIDIA's Q4 earnings report, scheduled for February 21, 2024. Analysts expect the company to report Q4 revenues of $20.37 billion, a substantial increase from $6.05 billion the previous year, indicating a potential tripling of revenues on a year-over-year basis. Despite the recent gains, NVDA has been down four of the past five days, including three consecutive days, totaling a 7.12% decrease over this period. Amidst this performance, NVDA has become the most traded stock on Wall Street, surpassing Tesla (TSLA), as investors turn their attention to the upcoming earnings report, with the stock down 5.42% today.
Sources
Sawyer MerrittNvidia is now the most traded stock on Wall Street, overtaking $TSLA. https://t.co/To2PubDCPo
Markets & Mayhem 🤖$NVDA giving back some of its recent gains, down 5.42% today https://t.co/fGNmnAWayi
TipRanksNvidia $NVDA is down 5% ahead of their Q4 earnings report, scheduled for Feb 21st. Analysts expect revenue of $20.37 billion in Q4 compared to $6.05 billion last year. This implies that NVDA’s Q4 revenues will more than triple on a year-over-year basis. #stocks
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