Nvidia short sellers profit $5bn from 13% stock drop, attributed to investor shift from AI stocks.
Nvidia short sellers gain $5bn in profits from three-day selloff, with stock falling 13% and market cap down $430bn since June 18. Short sellers made $2.4bn on one day alone, highest since 2019. Decline attributed to investors moving from AI stocks into other sectors as 2024 approaches mid-point. Despite falls, Nvidia's 145% stock rise this year makes it the second-best performer on the S&P 500.
June 25, 2024
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