Investor sentiment and market speculation are currently driving NVIDIA's stock movement, despite the absence of significant news. Discussions on platforms like Reddit reveal mixed opinions about NVIDIA's future. Some investors express concern over the company's performance since June, particularly with the shift of major companies like Apple and Amazon towards custom chips, which could challenge NVIDIA's dominance in the AI sector. However, optimism persists, with some users predicting a significant rise in NVIDIA's stock, citing the company's comprehensive platform and potential growth in its automotive division, which saw a 72% y/y revenue increase in Q3.
The ETF Opportunities Trust T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has responded to NVIDIA's stock decline, rising 3.01% to $3.76 as of 7:20 AM on Tuesday, December 17.