Stock Track | GraniteShares 2x Long NVDA Daily ETF (NVDL) Plummets 7.13% Intraday as NVIDIA and Chip Stocks Decline

Stock Track12-18

The GraniteShares 2x Long NVDA Daily ETF (NVDL) fell sharply by 7.13% during intraday trading on Wednesday, mirroring a broader decline in chip stocks. The leveraged ETF, which aims to deliver twice the daily performance of NVIDIA (NVDA.US), was heavily impacted as NVIDIA's shares dropped over 2.6%.

The downturn in the semiconductor sector followed reports that Oracle faced a setback in its AI infrastructure expansion plan, initially sparking concerns among investors. However, Oracle later clarified that negotiations for the project remain on track, with overall progress meeting expectations. Despite this, the initial negative sentiment contributed to the sell-off in chip stocks, including NVIDIA, which in turn amplified the decline in NVDL due to its leveraged structure.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment