China’s Probe On Nvidia: Here’s How Retail Traders Reacted
Synopsis
China’s State Administration for Market Regulation said Monday that a recent review found Nvidia had broken the country’s Anti-Monopoly Law.
Nvidia (NVDA) stock fell 1.5% in premarket trading on Monday in response to China’s allegations that the chip giant broke the country’s competition laws.
The move captured the attention of retail traders on Stocktwits, prompting a slew of responses. A bullish user emphasized China’s slow economy status and that the country needs Nvidia than the other way around.
Other users said this is a good time to buy on the dip.
China’s State Administration for Market Regulation said Monday that a recent review found Nvidia had broken the country’s Anti-Monopoly Law. The probe centers on Nvidia’s $7 billion purchase of Mellanox Technologies in 2019, along with related agreements.
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