Nvidia stock drops 8 percent on a short-seller's tweet

My chart shows it was down -14% before closing at -10.5% The SPX also dropped 30 points before bouncing back, so that one had probably a bigger effect then some tweets...
 
The tweeter is delusional if they think their comments caused the drop on the NVDA. The semiconductor sector (SMH) has been under broad selling pressure.
 
It's not about the SMH index as much is it's about NVDAs recent run. SMH up around ~20% this year vs ~50% for NVDA.
 
comagnum said:
The tweeter is delusional if they think their comments caused the drop on the NVDA. The semiconductor sector (SMH) has been under broad selling pressure.
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I don't think the tweeter said anything about his tweet causing the drop but if you look at his track record he definitely has the juice to but the kabash on a stock.
 
It's not about the SMH index as much is it's about NVDAs recent run. SMH up around ~20% this year vs ~50% for NVDA.

The SOX index has NVDA weighted #21 of 30.
The SMH has NVDA #6 of 30 with a 4.9% weighting.
Both the SOX and SMH are moving down in unison with the majority of semi's under broad selling pressure -most stocks got hammered after that key reversal on Friday. Without a big gap down on NVDA there is nothing to indicate it caused the broad semi sell off - in this high speed era it's possible profit taking on one stock lead to a broad race for the exits on the entire semi sector - who knows?
 
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You can take this one to the bank...
Short as much NVDA tomorrow pre-market or at the bell on any and all strength near $160.... which it should see.
Its goin down. Easy money. Back up the truck.
 
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