Several equity research teams, including Piper Sandler, have lowered their NVDA price targets and ratings. Investors received this announcement negatively, as shares fell 7% following the news. Then on 1 September, US officials told Nvidia to halt the exportation of artificial intelligence chips to China. The semiconductor company’s stock price has fallen by a quarter since its latest results fell below industry expectations.ĬFO Colette Kress explained that ‘macroeconomic headwinds’ and ‘challenging market condition’ led to a ‘sudden slowdown in consumer demand’ for the company’s gaming products. They reiterated a ‘buy’ call and price target of $333.33. Goldman Sachs analysts wrote that Tesla’s leadership position in EVs, and focus on clean transportation, places it in a great position to capitalise on its long-term shift to EVs. Still, the stock is up 12% in the last three months, compared to the S&P 500’s decline of 5%. The electric vehicle (EV) maker’s stock has been struggling to find upward momentum since it posted its results for Q2 2022 in late July. GameStop saw sales drop from $1.18 billion in the second quarter (Q2) of 2021 to $1.14 billion during the same period this year. The mother of the meme stock frenzy had an eight-day losing streak at the end of August, matching the one in January this year. Shares are down over 40% in the last one month.
GME is still one of the most talked-about meme stocks today, as investors continue to favour short selling it. The stock crashed by 18% on 6 September, after the sudden death of its Chief Financial Officer (CFO), Gustavo Arnal. The home and lifestyle company’s stock first started to experience a surge in mid-August 2022, after users on r/wallstreetbets started discussing the stock more frequently.īeing one of the most heavily shorted Wall Street stocks, its share price kept climbing until it hit $25 a share on 17 August, double of what it was trading at just a week prior.
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