Ortex Technologies estimates that the three-day selloff in Nvidia stock "on paper" could have netted shorts nearly $5 billion. dollars in profit, Reuters news agency reports.
Over the past three sessions, the flagship artificial intelligence company's price has fallen 13 percent, with a market capitalization of $430 billion. dollars.
There was no specific reason for the fall. Investors were able to take profits after Nvidia's price hit a record high. Perhaps the approaching end of the quarter had an influence on this.
Shares of Nvidia suffered a technical correction after falling more than 10 percent from a previous record high. A 6.6 percent decline in the company's stock price on Monday alone netted shorts $2.4 billion. dollar profit. Ortex Technologies points out that this is the biggest one-day gain since 2019, when such data was recorded, for those market players who bet on any company falling in value.
True, yesterday the market value of this technology giant rose by almost seven percent, and since the beginning of this year alone – by 155 percent.
