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Why NVIDIA Stock Fell 19% on November 16

Adam Rogers
Why NVIDIA Stock Fell 19% on November 16

The stock of semiconductor (SMH) company NVIDIA (NVDA) fell close to 19% on November 16. The stock closed trading at $164.43, which is 44% below its 52-week high of $292.76. NVIDIA lost over $23 billion in market value overnight. NVIDIA has now declined 22% in November 2018, 41% since October 2018, and 15% since the start of 2018. Peer semiconductor companies such as Advanced Micro Devices (AMD) and Micron (MU) fell 3.9% and 1.2%, respectively, on Friday.