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Feb 20, 03:13 PM
NVIDIA Shares Down 4.8%-5.42% Before Q4 Earnings, Overtakes TSLA as Most Traded
Economics
Business

NVIDIA Shares Down 4.8%-5.42% Before Q4 Earnings, Overtakes TSLA as Most Traded

Authors
  • *Walter Bloomberg
  • Sawyer Merritt
  • Markets & Mayhem
7

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.

Written with ChatGPT (GPT-4).

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