Nvidia's recent downgrade by Punto Casa de Bolsa to a "Sell" rating has raised concerns about the company's valuation and potential challenges in the semiconductor sector. This bearish sentiment has led to a significant increase in trading volume, as investors reevaluate their positions in light of the revised outlook. Despite closing at $124.65, up 0.77% from the previous day, Nvidia's stock has seen a decline in after-hours trading, reflecting the market's apprehension about its future performance.
The AXS 1.25X NVDA Bear Daily ETF (NVDS) responded to these developments by climbing 0.80% to $26.36 as of 5:20 PM on Thursday, January 30.