Nvidia falls into correction territory, down more than 10% from its record close
Posted: Dec 16, 2024
- Nvidia ($NVDA) shares fell by more than 10%, putting the company in correction territory
- The stock is down 4.5% in December and about 11% off its record close
- Nvidia has rallied 166% this year driven by excitement around AI technology
- Other chipmaking stocks like Broadcom ($AVGO) have surged amid Nvidia's decline
- Potential concerns for Nvidia include underperformance compared to the market and key stock price levels to watch
- Other semiconductor stocks like Micron Technology ($MU) and Marvell Technology ($MRVL) also rallied
What do people on Reddit think?
🚨 Reddit sentiment: mixed/positive - While there are jokes about $NVDA's price movements, most comments treat the correction as a buying opportunity and express positive expectations for the stock's future. Summarized comments: - Some users anticipate buying back into $NVDA after it drops - Joking about $NVDA's frequent dips and recovers - Correction viewed as a buying opportunity - Comparison with $AMD noted, suggesting both stocks can go down - Some users expect $NVDA to hit high price targets, but skepticism expressed - Positive sentiment toward buying $NVDA during dips - Considering buying in-the-money calls for $NVDA Stock tickers discussed: $NVDA, $AMD
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