Megalith
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NVIDIA hasn’t been doing well in the stock market lately, and while that isn’t exactly a secret, several stories have emerged this week to elaborate on how bad the numbers have become. TechCrunch pointed out a few days ago that NVIDIA’s stock has “dropped from a closing price of $289.36 on October 1 to today’s opening of $148.42, a decline of 48.8 percent,” which is pretty shocking. Management, however, believes things will rebound with the help of Turing, ray-traced gaming, rendering, and other growth opportunities.
It takes a lot for a company to lose nearly half its value in such a short period of time, but Nvidia is proving that an otherwise strong technology business can disappear in the blink of an eye. The company faces an almost perfect barrage of headwinds to its core products that is stalling its plans for long-term chip domination. First and foremost, the huge sales of its chips into the crypto space have dried up as crypto prices have crashed in recent months.
It takes a lot for a company to lose nearly half its value in such a short period of time, but Nvidia is proving that an otherwise strong technology business can disappear in the blink of an eye. The company faces an almost perfect barrage of headwinds to its core products that is stalling its plans for long-term chip domination. First and foremost, the huge sales of its chips into the crypto space have dried up as crypto prices have crashed in recent months.