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Why Nvidia Stock Dipped Today

TheMotleyFool

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Shares of semiconductor-specialist Nvidia (NASDAQ: NVDA) are fluttering around a bit in Tuesday trading. After jumping higher at the open, Nvidia stock quickly gave up its gains and headed lower, hitting a 2.3% loss as of 10:30 a.m. ET.

Why did Nvidia pop, and why is it now dropping? I fear the answer is one and the same: According to a CNBC report, which spied the stock accelerating in pre-market trading, the only reason Nvidia shares were going up this morning was because "chip stocks have been rising amid supply shortages and strong demand, leading to higher prices for chips."

But that's old news, to say the least, and not really a good reason for the stock to be going up today.

Source Fool.com

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