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NVDA Stock Price Recovers After 1.5-Month Low
Yesterday, NVDA’s stock price fell to 116.61 – its lowest level since June 5th.
The bearish sentiment was triggered by Trump’s cautious remarks regarding the necessity to defend Taiwan from the threat of military action by China. The leading pre-election candidate suggested in a Bloomberg interview that the island should pay for US defensive support, leading to a drop in semiconductor manufacturers' stock prices: TSMC fell by 8%, and Nvidia shares dropped by 6.6% during yesterday's session, as its primary AI chip producer is Taiwan Semiconductor Manufacturing.
However, today in pre-market trading, NVDA's price is recovering, rising above $120 per share. How might the situation develop further?
Let us recall that on 10th July, we wrote about strong seller pressure above the $130 per share level. Since then, the price has declined by approximately 9%.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Yesterday, NVDA’s stock price fell to 116.61 – its lowest level since June 5th.
The bearish sentiment was triggered by Trump’s cautious remarks regarding the necessity to defend Taiwan from the threat of military action by China. The leading pre-election candidate suggested in a Bloomberg interview that the island should pay for US defensive support, leading to a drop in semiconductor manufacturers' stock prices: TSMC fell by 8%, and Nvidia shares dropped by 6.6% during yesterday's session, as its primary AI chip producer is Taiwan Semiconductor Manufacturing.
However, today in pre-market trading, NVDA's price is recovering, rising above $120 per share. How might the situation develop further?
Let us recall that on 10th July, we wrote about strong seller pressure above the $130 per share level. Since then, the price has declined by approximately 9%.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
