NVIDIA stock slips ahead of earnings
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The shares of Bullish (NYSE: BLSH), the crypto platform backed by PayPal co-founder and venture capitalist Peter Thiel, sank on Nov. 19 despite beating revenue estimates in the third quarter of the year.
Seemingly gone are the days of double-digit percentage moves in Nvidia shares after earnings. The stock fell less than 1% in the session following Nvidia's last earnings report, and rose about 3% in the session following the prior report.
AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.
Stock market today: Dow slides 500 points, S&P 500 notches 4th day of losses as Nvidia earnings loom
US stocks retreated on Tuesday as worries about an AI bubble and the broader US economy continued to set markets on edge, with a pivotal Nvidia earnings report and shutdown-delaye
Nvidia is due to report fiscal third-quarter earnings after Wednesday's closing bell. Investors will be looking to see if the company can stabilize the AI trade in the face of mounting concerns about rampant spending.
The seemingly sturdy U.S. stock market has begun to wobble. Its months-long tech-driven rally may be running out of steam amid broader uncertainty about the U.S. economy’s outlook.
With the new ratings, 75% of analysts covering Ramaco stock rate shares Buy with one, Goldman Sachs, rating it Sell, according to FactSet. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target for Ramaco stock is about $40.
This is a significant adjustment, but it’s important to note that the stock was initially priced at $31 during its remarkable June IPO