Nvidia heads for longest weekly losing streak since 2012 as Jensen exit rattles AI trade
NVDA•Nvidia shares were set for a sixth straight weekly decline, their longest such streak since October 2012, after falling 10.9% through Thursday's close. The stock was down nearly 11% for the week, while retail investors bought a net $1.6 billion in shares and the company is due to report third-quarter earnings next week.
1. Six-week losing streak
Nvidia shares gained 1.2% to $168.20 in premarket trading Friday, but remained set for a sixth consecutive weekly decline, a streak last seen in October 2012. The shares had fallen 10.9% through Thursday's close and were down 10.9% year to date, the second-worst performance among the Magnificent Seven, behind Tesla.
2. Company and analyst pressure
Nearly $1.4 trillion has come off Nvidia's market value since its record closing high on October 6, and the company briefly fell below a $4 trillion valuation intraday Thursday. At least seven brokerages downgraded the stock this week, with several also cutting price targets. The article says Jensen Huang stepped down as CEO Thursday after revelations of extramarital affairs, including one involving a suspected Chinese spy; CFO Colette Kress will serve as interim CEO.
3. Investors and earnings
Retail investors bought a net $1.6 billion of Nvidia shares through Thursday's close, putting them on track for their biggest weekly purchase since March 2025, Vanda data showed. Nvidia is scheduled to report third-quarter earnings next week.
