Nvidia's market value evaporated by more than 220 billion yuan overnight

　　On December 4, local time in the United States, CNMO noted that Nvidia closed down 2.68% at $455.1, with a market value of $1.1 trillion. Its market value evaporated by 31 billion US dollars (about 221.4 billion yuan) overnight. The closing price approached the Nov. 3 close of $450.05, a correction of more than 9.7% from the all-time closing high of $505.09 set on Nov. 20. Nvidia insiders sold or applied for the sale of 370,000 shares of Nvidia shares in November, with a market value of about $180 million, according to Washington Service data, and if all of those shares are eventually sold, it would be the largest monthly sell-off in dollar value in at least six years. It is worth mentioning that Nvidia shares have risen by 220% this year

　　After more than tripling in 2023, Nvidia's stock price is now starting to decline. The company's shares have fallen about 6% since Nov. 21. On November 21, driven by strong demand for artificial intelligence computing chips, Nvidia gave fourth-quarter performance guidance that exceeded analysts' expectations. After such a stellar performance of the company's stock, it's understandable that insiders would want to cash out. But needless to say, the sell-off struggles to inspire confidence in a future rally. The data shows that since 2020, Nvidia insiders have not made any stock purchases.

　　Shana Sissel, CEO of Banrion Capital Management, a capital management company that owns Nvidia shares, said: "It's interesting that there was a lot of selling activity, but no buying. But given the stellar performance of Nvidia stock, it makes sense to cash out partially. ”

　　In response, an Nvidia representative said that most of the sell-offs were based on the 10b5-1 plan, and the price, volume and sell-off date were pre-set.