Nvidia rebounds 6% after Baird downgrade; tech futures rally
Nvidia is up about 6% pre-market, erasing the prior day's drop, as Nasdaq 100 futures gain 2% on strong CoreWeave results. Baird cut Nvidia to Neutral with a $200 target, per market news accounts.
What we know
Nvidia surged over 6% as investors bought the dip, and Coinbase's prediction arm noted the stock had erased all of the prior day's decline. Market news accounts report Baird downgraded Nvidia to Neutral and cut its price target to $200 from $500, citing a possible slowdown (unconfirmed). The FT said US tech stocks were poised to jump on better-than-expected CoreWeave results, and Nasdaq 100 futures extended gains to 2%. CoreWeave's CEO said he sees no reason the Nvidia partnership will change. An on-chain tracker flagged a Hyperliquid wallet going 5x long $24.2M of NVDA.
Sources
“US tech stocks were poised to jump on Wednesday”
View post →What people are posting
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“Baird downgraded Nvidia to Neutral and cutting its PT to $200 from $500”
View post →“A whale is going heavily long on $NVDA and $SNDK!”
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