NVIDIA Corporation (NASDAQ: NVDA)
NVIDIA Corporation is having a rough start to the session today after announcing demand issues and price cuts. At the opening bell, the stock was trading slightly in the red before jumping to the green. However, as soon as the price cut announcement hit, the stock went on a mad dash toward the bottom, prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:46), NVDA is trading at $107.42 per share after a loss of $0.65 per share (0.60%) thus far today.
NVDA Slashes Product Pricing
As mentioned above, NVIDIA Corporation is having a rough start to the day today after announcing that it has cut pricing. The company recently cut the price of its GTX 1080 graphics cards from $699 to $499 in hopes of increasing sales. The company said that the price cuts are the result of decreasing demand for the product, as motherboard players continue to see decreases in shipments in the first quarter; they are not expecting things to improve in the second quarter.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NVDA. In particular, we’re interested in seeing if the price cuts result in increased sales or if this is a futile effort, as consumers are changing their computing habits. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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