NVIDIA shares rebounded by nearly 2%, following a sharp decline of almost 9% the previous day.
On Tuesday, NVIDIA’s stock climbed 1.69% to $115.99 on the New York Stock Exchange, boosting its market capitalization to $2.83 trillion and solidifying its position as the third-largest U.S. company by market value.
The rebound appears to be driven by investors taking advantage of the previous day’s price drop to buy shares at a discount, as no major news events directly affected the company.
The previous day’s sharp decline of 8.69% was triggered by reports of China smuggling the company’s latest Blackwell chips, sparking concerns that U.S. authorities might impose even stricter controls on semiconductor exports.
Two days earlier, The Wall Street Journal had reported that despite U.S. export bans, Chinese traders were circumventing restrictions by importing NVIDIA’s cutting-edge Blackwell chips through third countries. This news fueled speculation about potential tighter restrictions on NVIDIA’s exports to China, contributing to the 9% stock price plunge.
However, today’s recovery suggests that investors saw the dip as a buying opportunity, helping NVIDIA shares regain some ground.