NVIDIA stock has dropped by over 5% in the pre-market trading hours today after the US government ordered both Nvidia (NVDA) and AMD (AMD) to stop selling some of their technology that can be used for artificial intelligence to China.
The move to halt exports of AI chips to China is a major setback for the company whose stock has been on the decline since the end of March. NVIDIA stock has lost 35.71% in the last six months.
According to a regulatory filing made by Nvidia, the move to halt exporting chips to China will upset $400 worth of business for the company; something that is expected to adversely affect the company’s revenue.
To help stock investors interested in investing in Nvidia stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Nvidia stock?
Nvidia stock is the stock of Nvidia Corporation and it trades on the NASDAQ Stock Exchange under the symbol NASDAQ: NVDA.
Nvidia Corporation is an American multinational technology company that designs graphics processing units for the gaming and professional markets, as well as system-on-chip units for the mobile computing and automotive market.
The corporation is based in Santa Clara, California and it is incorporated in Delaware.
Should I buy NVDA stock today?
Nvidia stock is currently on the decline and the tumble is expected to continue because of the order by the US government for the company to stop selling some of its AI chips to China.
Buying the stock at the moment is risky since it is not clear when the stock shall rebound especially following the current development.
Nvidia stock price prediction
Analysts expect NVDA stock price to drop to at least $145 today following the order given by the US government.
Nvidia stock could drop further below $130 in the coming days owing to the impact of the order by the US government and other factors that have been pulling the stock down over the past five months.
$NVDA social media trends
BREAKING
On July 27th, Nancy & Paul Pelosi sold all 25,000 of their shares of Nvidia, $NVDA.
Today $NVDA was told to restrict chip sales in China & Russia by the US Government on August 26. $NVDA is down 20% since their initial sale, -5% in after hours today.
Unusual.
— unusual_whales (@unusual_whales) August 31, 2022
JUST IN: 🇺🇸 US orders Nvidia, $NVDA to halt top AI chip sales to China and Russia, one month after Nancy Pelosi sold all her shares.
— Watcher.Guru (@WatcherGuru) August 31, 2022
The post Where to trade Nvidia stock: the US orders company to stop selling AI chips to China appeared first on Invezz.
