Why Nvidia Stock Dropped Again on Thursday
It's Thursday, the Nasdaq Composite Index is plummeting -- now down 2.7% -- and it's taking the stock of Nvidia (NASDAQ: NVDA) along for the slide. Shares of the semiconductor giant were down 3.6% as of 1:10 p.m. ET today.
Image source: Getty Images.
In a note out earlier this week, analysts at TheStreet.com reported that the semiconductor sector is in a slump despite a tight supply of microchips globally, with manufacturers having just five days' supply of chips on hand (versus closer to 40 days' worth as recently as 2019).
Source Fool.com