According to MarketWatch, Mark Stevens, an Nvidia board member, sold 118,602 NVDA shares in the Friday and Tuesday trading sessions, raising over USD 50 million.
Earlier it became known about the sale of shares of 2 more top managers of Nvidia:
→ Tench Coxe announced a USD 21 million share sale, having sold USD 38 million worth of shares earlier this month.
→ Harvey Jones sold over USD 48 million worth of shares last week after selling over USD 28 million worth of NVDA shares earlier this month.
Are Nvidia executives rushing to get rid of stocks with insider information that could bring down their price?
Hardly. Top executives continue to own hundreds of millions of dollars worth of stock, but have likely decided to partially take profits after a sharp rally in Nvidia's stock, which soared 195% this year amid the hype around AI. Perhaps Mark Stevens and colleagues see growing chances for NVDA stock price to correct from the upper line of the ascending channel into the gap area (shown in purple).
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.