12/26

Why is NVDX Down Today After Profit-Taking

The ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) closed down 0.71% at $15.31 on December 26, as NVIDIA's stock experienced a 0.38% decline to $139.69. NVIDIA's stock faced pressure amid profit-taking activities, with a notable put buyer realizing a 5% same-day gain, indicating bearish sentiment. Despite a strong performance throughout 2024, NVIDIA's recent dip into correction territory has raised concerns about potential overvaluation, although Wall Street remains largely optimistic with a consensus "buy" rating. The stock's trading volume was significantly lower than average, suggesting reduced market participation.