Cryptocurrencies

Nvidia Stock Price Tanks In The After-Hours Despite Record Earnings

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Written By: Abdullah Sarwar
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  • Nvidia stock price slid in the after-hours on Tuesday, despite the firm reporting record revenue and profit in the third quarter.

Nvidia stock (NASDAQ: NVDA) price has posted record profits in the third quarter of the current fiscal year. However, the stock price of the AI giant still tumbled in the after-hours, suggesting that the investors were expecting even more bullish figures.

On Tuesday, Nvidia shares closed the session at $499.44. The much-awaited Q3 earnings report of Nvidia Inc. was released after the bell on the same day. These results showed that the company made a record revenue of $18 billion during the quarter.

Additionally, the company also forecasted a $20 billion revenue for the midpoint of the fourth quarter. Nevertheless, the results were apparently not good enough to keep the price above $500 level and the stock was trading at $490.64 at press time.

Unlike other analysts, I keep my charts simple with clear invalidations. Therefore, as long as NASDAQ: NVDA changes hands above $482, the outlook will remain bullish. However, the tables on the Nvidia stock price forecast may turn if the bulls fail to hold this level in the coming days.

NASDAQ: NVDA Technical Analysis

This post was last modified on Nov 22, 2023, 00:22 GMT 00:22

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.

Published by
Written By: Abdullah Sarwar