‘Jensen Huang Risk’ Nvidia’s market cap evaporates to 258 trillion won… Falling alone

While technology stocks rebounded in the U.S. stock market, Nvidia's stock price plunged alone in the aftermath of the board investigation into CEO Jensen Huang, evaporating $192.1 billion (about 258 trillion won) in market capitalization in one day.

On the New York Stock Exchange on the 9th (local time), Nvidia's stock price closed at $178.67, down 4.3% from the previous trading day. The stock price plummeted 8.8% at one point during the day.

The trading volume was 446.29 million shares, which was close to four times the usual amount.

NVIDIA's stock price fell sharply due to the shock of last week's midterm elections and this bad news.

Compared to a week ago, the stock price fell 11.6%, and the market capitalization decreased by $564 billion (about 759 trillion won). The current stock price is down 26.6% from the 52-week high ($243.37).

NVIDIA's market cap fell to about $4.31 trillion, widening the gap with the world's No. 1 company, Apple (about $5.1 trillion), to about $790 billion (about 1064 trillion won).

This is in contrast to the New York stock market's rebound on this day, thanks to a sharp drop in international oil prices and low-price buying of technology stocks. The Dow Jones Industrial Average rose 2.2%, the S&P 500 Index rose 2.4%, and the Nasdaq Composite Index rose 2.7%.

Other AI semiconductor stocks that fell sharply after the midterm elections also rebounded sharply.

AMD soared 13.3%, and Western Digital (9.9%), Broadcom (8.8%), Micron (6.3%), SanDisk (6.2%), SK Hynix American Depository Receipt (ADR, 5.5%), and TSMC ADR (3.5%) also rose in succession.

The Philadelphia Semiconductor Index rose 6.9%.

Excluding NVIDIA, Magnificent 7 (M7) stocks also rose, including Tesla (5.5%), Meta (5.1%), Amazon (2.9%), Microsoft (2.8%), Apple (2.4%), and Alphabet (1.2%).

Neocloud companies Coreweave and Nevius also rose 5.6% and 9.2%, respectively.