• Sat. Dec 9th, 2023

Why Nvidia Stock Is Falling

ByHenry Khederian

Jul 26, 2022
Why Nvidia Stock Is Falling

NVIDIA Corporation NVDA shares are trading lower by 2.98% to $165.17 Tuesday afternoon. Shares of technology companies at large are trading lower amid overall market weakness as traders assess Walmart’s earnings results and anticipate a large number of earnings reports this week, along with an FOMC meeting on Wednesday. Ongoing inflation and monetary policy tightening concerns have weighed on the economic outlook.

What Else?

Nvidia shares were also trading lower during Monday’s trading session after Barclays analyst Blayne Curtis on Monday maintained Nvidia with an Overweight, but lowered its price target from $295 to $200.

The broader market, including market indexes, are also lower after Walmart cut its second-quarter and FY23 guidance amid rising inflation, which has caused broader concerns over economic health and consumer spending. Traders and investors continue to weigh economic data and the possibility of a recession.

According to data from Benzinga Pro, Nvidia has a 52-week high of $346.47 and a 52-week low of $140.55.

Image and article originally from www.benzinga.com. Read the original article here.