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.
Where you can trade NVDA Stock
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Register with eToro instantly
Firstrade is a leading online brokerage firm offering a full line of investment products and tools designed to help investors like you take control of your financial future. Since its founding in 1985, Firstrade has been committed to providing high value and quality services to help you reach your financial goals.
Register with Firstrade instantly
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
The post Where to trade Nvidia stock: the US orders company to stop selling AI chips to China appeared first on Invezz.