Nvidia Stock Price Soars, Then Plummets, Dragging Down Nasdaq

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Erlina Fury Santika 16/10/2024 15:47 WIB

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According to data compiled by MarketWatch, Nvidia's stock price reached a one-year high of US$138.07 per share on October 14, 2024. It has since declined.

Nvidia/NVDA Stock Price Performance (June 3 - October 15, 2024)

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Nvidia/NVDA Stock Price Performance (June 3 - October 15, 2024)

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The share price of the United States (US) technology company, Nvidia, briefly reached its highest level of 2024, namely US$138.07 per share (Rp2.15 million), or a 2.4% increase, on Monday (14/10/2024).

According to *Katadata*, its market capitalization reached US$3.4 trillion (Rp52.89 quadrillion) at the close of trading last Monday.

The share price surpassed its previous high of US$135.58 (Rp2.11 million) on June 18, 2024. Since the beginning of this year, the share price of the issuer with the code NVDA has risen by almost 180% and has jumped more than ninefold since the beginning of 2023.

However, the share price fell 4.68% to US$131.6 per share in Tuesday's trading (15/10/2024). This drastic decline is suspected of having a domino effect on the stock market.

According to *CNBC*, the Dow Jones Industrial Average fell 324.80 points, or 0.75%, closing at 42,740.42. The average of 30 stocks hit new intraday highs before falling. The S&P 500 slipped 0.76% and ended at 5,815.26. The Nasdaq also fell, dropping 1.01% to 18,315.59.

In addition to Nvidia, the share price of technology company AMD also plummeted 5.2%. The VanEck Semiconductor ETF (SMH) also fell 5.4%, its worst performance since September 3, 2024.

(See also: NVIDIA, the World's Largest Technology Company by Market Capitalization in June 2024)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Nvidia Stock Price Soars, Then Plummets, Dragging Down Nasdaq

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Nvidia Stock Price Soars, Then Plummets, Dragging Down Nasdaq

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