Nvidia (NVDA) experienced a significant drop on Friday, falling below its 50-day average as the broader market also retreated. The stock has fallen about 22% from its high in March as of Friday afternoon.
Shares of Nvidia, the AI chip giant, dropped 10% to 761 in late afternoon trading, following a market slide. This decline in Nvidia stock mirrored the performance of Super Micro Computer (SMCI) stock, both of which showed sell signals in Friday trades.
Nvidia stock dipped 10% below its 10-week moving average, marking a clear sell signal for investors to consider locking in profits or closing a position completely. As the top AI-chip maker, Nvidia has been a significant player in the artificial intelligence boom, reaching a high of 974 on March 8 before beginning to fade on March 26, when it traded at 298.06.