Investor sentiment and market speculation are currently influencing NVIDIA's stock movement, despite the absence of significant news. Discussions on platforms like Reddit reveal concerns about NVIDIA's competitive position, as companies such as Apple and Anthropic shift towards custom chips, potentially impacting NVIDIA's dominance in the AI sector. However, optimism persists among some investors who believe in NVIDIA's comprehensive platform and future growth prospects, particularly in its automotive division, which saw a 72% y/y revenue increase in Q3. This mixed sentiment is contributing to the stock's current performance.
The Graniteshares 2x Short NVDA Daily ETF (NVD) has risen 3.13% to $35.24 as of 7:20 AM on Tuesday, December 17.