Nvidia stock set to continue rebound after snapping a 3-day rout
What caused Nvidia's recent stock price rebound?
Nvidia's recent stock price rebound was caused by investors buying the dip after a three-day sell-off erased roughly $430 billion of the AI chip giant's market cap. Some investors saw the decline as an opportunity to buy into the hottest AI play of the year at a lower price, while others believe the sell-off was overblown. Nvidia's pivotal role in the artificial intelligence revolution and its strong performance in 2024 also contributed to the rebound.
How much did Nvidia's stock drop during the prior three sessions?
Nvidia's stock dropped nearly 13% during the prior three sessions before rebounding more than 6% on Tuesday.
How much did Nvidia's stock rise in pre-market trading on Wednesday?
Nvidia's stock rose over 2% in pre-market trading on Wednesday, following a 6% increase on Tuesday, reversing a three-day slide that erased approximately $430 billion of the AI chip giant's market cap.