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Why is NVD Up Today After China Restrictions

The Graniteshares 2x Short NVDA Daily ETF (NVD) closed on January 10th up 6.11% to $28.65, as NVIDIA's stock fell 2.94% to $135.99 amid market volatility and concerns over potential China restrictions. NVIDIA's stock faced pressure following a well-attended investor dinner in Las Vegas, where discussions highlighted the company's strategic positioning in AI and accelerated computing. Despite reaffirming its "Buy" rating, BofA Global Research noted potential short-term volatility due to enhanced China restrictions and the transition from Hopper to Blackwell products. The market's reaction reflects concerns over these transitions and geopolitical risks, overshadowing NVIDIA's long-term growth prospects in AI and infrastructure opportunities.