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How Short Sellers Cashed in on Nvidia’s Decline

Daniel Kim Views  

Yonhap News

Nvidia short sellers have made a profit through a three-day sell-off.

According to data analysis company Ortex Technologies on the 25th (local time), Nvidia short sellers made about $5 billion in paper profits through a drastic sell-off over the previous three rounds.

Furthermore, with Nvidia’s 6.6% drop on Monday, short sellers raked in $2.4 billion, marking the highest daily increase since the start of data in 2019.

Nvidia briefly became the most valuable company in the world after a sharp rise in stock prices. However, it has lost a market cap of $430 billion after a 13% drop since June 18.

Some market participants interpret Nvidia’s decline as a sign that investors are moving money away from high-flying AI stocks and into other sectors as 2024 approaches its halfway mark.

On the other hand, despite the recent downtrend, optimism about Nvidia’s role in leading the AI boom has driven this stock up 145% this year, marking the second-best performance in the S&P 500.

Daniel Kim
content@viewusglobal.com

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