Categories Research Summary, Technology

Nvidia shares jump after Citron Research buys stock

Short-seller Citron Research on Tuesday tweeted that it bought shares of Nvidia Corp (NVDA). Shares of the graphics chipset maker rose about 2.5% at market open on the news.

Shares of Nvidia were down at least 8% in pre-market trade before the news broke.

Last week, Nvidia had announced that the newly launched T4 GPU was adopted faster than any server GPU.

Just two months after its launched, the company claimed that T4 has been featured in 57 separate server designs from various computer makers. Moreover, it has also been implemented in cloud offerings, with the first availability of the T4 for Google Cloud Platform customers.

“We have never before seen such rapid adoption of a datacenter processor,” said Ian Buck, vice president and general manager of Accelerated Computing at NVIDIA.

“Just 60 days after the T4’s launch, it’s now available in the cloud and is supported by a worldwide network of server makers. The T4 gives today’s public and private clouds the performance and efficiency needed for compute-intensive workloads at scale,” he added.

Nvidia's GPU and Tegra Processor businesses revenue trend

However, the stock was suffering post disastrous earnings results. Total reported revenues and the outlook for the fourth quarter fell short of expectations, driving the company’s stock down 16% in the after-hours trading last Thursday, after it announced the results.

Nvidia third quarter 2019 Earnings Infographic

Get access to timely and accurate verbatim transcripts that are published within hours of the event

Most Popular

CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%

Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss

Key metrics from Nike’s (NKE) Q2 2025 earnings results

NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net

FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips

Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top