NVIDIA's stock is experiencing a downturn on January 29, 2025, primarily due to a combination of market corrections and evolving dynamics in the AI sector. The stock has been under pressure following a series of analyst reports and market reactions. Notably, Morgan Stanley has lowered its target price for NVIDIA, citing concerns over the company's valuation amidst the broader tech market volatility. Additionally, the recent developments in AI technology, particularly the DeepSeek initiative, have sparked mixed reactions among investors, with some viewing it as a potential catalyst for future growth, while others remain cautious about its immediate impact.
The Graniteshares 2x Short NVDA Daily ETF, which inversely tracks NVIDIA's performance, has seen a positive movement, reflecting the underlying stock's decline. As of 10:00 AM on January 29, the ETF is trading at $29.74, marking a 5.24% increase from the previous close.