Nvidia stock falls amid CEO scrutiny: Can buyers reclaim $178?
Nvidia stock continues to fall sharply, but investors are now focused on more than just the outlook for the AI industry. Growing scrutiny around CEO Jensen Huang is adding another layer of risk for a company already facing heavy selling pressure.
193.36
209.95
Jensen Huang has come under scrutiny following reports about a personal relationship with an entrepreneur whom U.S. intelligence agencies reportedly suspect of ties to Chinese intelligence. On November 8, Nvidia’s board announced an independent review, while stressing that there is currently no evidence that corporate secrets or U.S. national security have been compromised.
Nvidia stock needs to reclaim $178 to target a rebound toward $182
Nvidia failed to form the setup needed for a rebound and fell below $195 support, reaching the previously identified $190 target. Following the latest news surrounding the CEO, the stock extended its decline by more than 5% in premarket trading on November 9, moving close to $177.
The key level for today’s session will be $178. If buyers can reclaim that level and keep the price above it, a short-term rebound toward $182 could develop. RSI (14) has also moved into oversold territory, providing an additional positive technical signal.
If $178 cannot be recovered, the decline could accelerate toward support near $170. From that level, the possibility of a short-term recovery could come back into focus.
Congressional scrutiny could deepen Nvidia's leadership uncertainty
The political fallout could prove just as important as the market’s initial reaction. On November 5, the leaders of three U.S. House committees requested a closed-door briefing with Huang on November 18 to discuss his contacts with the individual reportedly suspected of ties to Chinese intelligence and Nvidia’s safeguards for sensitive technology.
Further pressure from Congress could weigh on Nvidia stock. The possibility of Huang stepping down cannot be ruled out entirely if the investigation were to uncover serious misconduct, but for now that remains speculative. Nvidia’s board continues to back the CEO, and there is no confirmed evidence that confidential information was leaked.
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