Nvidia execs unload shares—is NVDA about to plummet?
The post Nvidia execs unload shares—is NVDA about to plummet? appeared on BitcoinEthereumNews.com.
The surge in artificial intelligence (AI) stocks over the past two years is not just a temporary trend but the beginning of a revolution affecting nearly every industry. Projections suggest the AI market could reach $2.57 trillion by 2032, with a remarkable compound annual growth rate (CAGR) of 20.4% between 2024 and 2032. AI market projections by 2032. Source: Precedence Research Nvidia (NASDAQ: NVDA), a Santa Clara-based company specializing in designing and selling specialized GPUs, has become emblematic of the AI boom. The company’s stock has soared almost 3,000% over the past five years and continued its stellar performance in 2024, rising 162.40% year-to-date. Nvidia also offers a modest dividend yield of 0.02%. However, after briefly holding the title of the world’s most valuable company last week, Nvidia’s shares have since declined by 16% from their peak, with June 24 marking the stock’s worst decline in the past two months. Are Nvidia insiders to blame for the decline in NVDA stock? One likely reason for the recent decline is profit-taking after Nvidia’s significant run-up, as the stock was technically overbought before the pullback. Additionally, some market watchers are concerned about heavy insider selling amid the recent weakness in Nvidia’s stock. As Nvidia competed with Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL) for the world’s most valuable company title, Nvidia insiders were selling their shares. This includes co-founder and CEO Jensen Huang, who sold 240,000 shares on June 21 at an average price of $131.49, totaling approximately $31.56 million. Earlier in the month, Huang sold shares worth $63.1 million in two tranches, leaving him with a 35.2% ownership stake in Nvidia, still a substantial holding. Other Nvidia insiders have also been selling shares. Long-time director Tench Coxe sold $119 million earlier in the month. Additionally, Chief Financial Officer Colette Kress recently…
Filed under: News - @ June 27, 2024 1:18 pm