Nvidia CEO Continues the Massive Stock Sell-Off
Nvidia's CEO, Jensen Huang, has significantly increased his stock sales, raising alarms among investors.
Recent transactions have seen Huang offload $104 million worth of NVDA shares, as Nvidia’s stock recovers from earlier fluctuations. This year, Nvidia’s value surged due to heightened interest in artificial intelligence technology.
In his recent moves, Huang sold 240,000 shares worth $26.2 million on September 11, mirroring a similar sale from September 9 valued at around $25 million. Combined with other sales this month, Huang’s total offload now exceeds $104 million.
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Historically, SEC filings reveal Huang has sold 5.3 million shares for approximately $633 million.
Despite these sales, Nvidia remains a dominant player in the market, bolstered by excitement over its forthcoming Blackwell chips. The AI boom has driven up Nvidia’s stock, and the company is poised to benefit from potential new export opportunities to Saudi Arabia.
The U.S. government is contemplating easing export restrictions, which could further enhance Nvidia’s market position.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
