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Nvidia Shares Today Slip Below $180 As Spy Allegations Turn Personal For Jensen Huang
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
Nvidia shares fell 4.74% in premarket trading on Monday to $177.80, down $8.84 from Friday’s close of $186.64, after the company’s board opened an independent investigation into CEO Jensen Huang. The review follows reports in the New York Times and Financial Times that US intelligence agencies believe Alice Huang, an executive at cloud firm Megaspeed, passed information to Beijing and targeted the Nvidia chief. Huang told employees he had fallen short of his responsibilities and admitted being unfaithful to his wife. He said he fully supports the review. The board said it has no current reason to believe national security or company secrets were compromised. The drop leaves Nvidia about 27% below its record high of $243.37.
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