2x Long NVIDIA ETP (07788) Plunges Over 14% as Data Center Outlook Shifts and NVIDIA Stock Enters Technical Bear Market

Stock News12:02

According to Zhitong Finance APP, the 2x Long NVIDIA ETP (07788) has dropped more than 14%, falling 13.81% as of press time to HK$114.5, with a turnover of HK$3.6557 million.

On the news front, changes in the data center construction outlook have dealt a blow to U.S. chip stocks. On Thursday, NVIDIA shares closed down 9.26%, marking the largest single-day percentage decline since January 2025. Compared to its all-time highest closing price set on October 6, the stock has fallen 24.1%, entering a technical bear market. Since reaching its peak a month ago, NVIDIA's market capitalization has shrunk by $1.4 trillion.

Following the midterm elections, investors are reassessing the market's vulnerabilities, particularly in Texas, where the Democratic governor-elect has threatened to freeze new data center construction.

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