Shares of Nvidia have turned down on a day. The price is currently down $-21 or -1.76% at $1203. The low price today reached $1184.00. Yesterday Nvidia surpassed Apple as the second largest capitalized stock in the US behind Microsoft. I know the sky is falling, but really it is not.
Despite the decline, the shares are up 27.85% from the close on their earnings date on May 22. At that time, Nvidia announced a 10 for 1 stock split effective Monday, June 10. They also increased their dividend along with raising projections for earnings and revenues going forward.
The decline in Nvidia shares has the NASDAQ index also lower. It is currently down around -11 points or -0.06% at 17177.30. The low for the day reached 17126.87 but has already bounced.
The NASDAQ index closed at a record level yesterday as did the S&P index. The S&P index is currently up marginally by 0.04%
This article was written by Greg Michalowski at www.forexlive.com.
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