Cryptocurrency is also a factor, but I’ll deal with that separately.Īll of these factors came together last week in a downgrade from Baird. The Russian invasion of Ukraine is a part of it. Among these were issues we’ve been talking about for some time, including economic factors like rising interest rates that have investors looking outside of tech stocks. There were a number of catalysts behind last week’s continued slide in NVDA’s stock price. Here’s what you need to know about the latest NVDA stock weakness and why it offers a buying opportunity investors should take full advantage of. Last week alone, NVDA stock dropped 11% and closed at a new low for 2022. Buoyed by analyst projections for huge metaverse and data center revenue potential ( read more about that here), NVDA stock looked like it was heading toward $300 again. After a tumultuous February, shares began a two-week rally in mid-March. 27, they were worth $219.44, meaning they had shed a quarter of their value since the start of the year. However, the slide that began last November continued through January. Even after beginning an extended slide last November, NVDA stock still closed out 2021 worth more than double its value from the start of the year. Nvidia (NASDAQ: NVDA) shareholders saw their dreams of 2022 being a repeat of 2021 (at least 2021 up until November) shattered in January.
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