NVIDIA’s Jensen Huang Sells Over $42 Million Worth of Shares as the Resistance at the $500 Price Level Holds Firm
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NVIDIA (NASDAQ: NVDA) is currently on track to double its quarterly revenues in the time span of just 5 quarters, helped along by the incessant tailwind from the ongoing AI rush. Despite the clear price appreciation potential for the stock, the GPU maker's insiders have made no move to buy the stock over the last 12 months. Instead, we've witnessed an unending trickle of sell transactions, with NVIDIA's CEO, Jensen Huang, becoming the latest insider to unload his stock holdings at the current lofty levels.
As illustrated in the snippet above, Huang has sold NVIDIA shares worth $42.828 million since the start of September.
JUST IN: Nvidia CEO, Jensen Huang, has sold shares worth over $42 million in the past week. $NVDA pic.twitter.com/MzQ22Ki1UW
— WhaleWire (@WhaleWire) September 7, 2023
The above tweet provides a granular view of these transactions.
For the benefit of those who might now be aware, NVIDIA recently reported $13.51 billion in quarterly revenue, with the company's data center segment accounting for $10.3 billion in sales. The real shocker, however, has been NVIDIA's blowout guidance, with the company now expecting $16 billion (plus or minus 2 percent) in sales for Q3 2024. For reference, consensus expectations for the quarter's revenue were pegged at just $12.61 billion before the latest earnings release.
Since that initial euphoric moment immediately following the company's latest earnings release, NVIDIA's shares have struggled to breach the critical resistance at the $500 price level. For more insight into the technicalities, head over to this post.
NVIDIA $NVDA filed its
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