Nvidia Shares Plunge 4.3% to $166.19 as Investors Flee After CEO Resignation

Nvidia shares closed down 4.34% at $166.19 on Thursday after the chipmaker's chief executive Jensen Huang resigned, falling as much as 14% in early trading before recovering part of the loss. Rivals AMD and Broadcom surged as investors rotated out of Nvidia.

Nahid Joy

Nov 13, 2026 - 09:25

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A close-up of a trading screen showing red and green candlestick bars trending downward, with percentages and moving-average lines.

Nvidia Shares Plunge 4.3% to $166.19 as Investors Flee After CEO Resignation

Photo: an illustrative trading screen showing a falling stock chart, not Nvidia's share price on the day.

Nvidia's first trading day without Jensen Huang was brutal. The chipmaker's shares fell 4.34% on Thursday to close at $166.19, down $7.54 from Wednesday's close of $173.73, after the company announced before the opening bell that its co-founder and chief executive had resigned. At one point in the morning, the stock was down almost 14% — a collapse that briefly dragged its market value below $4 trillion for the first time since July.

The scale of the fall stunned even veteran market watchers. Nvidia opened at $151.01 and touched a low of $148.80, a 52-week low and its weakest level since July 2025, before clawing back through the session to a high of $167.14. In after-hours trading it edged up to $167.87. The resignation was announced at 8:48 a.m. New York time, and the selling began immediately.

The rotation: AMD and Broadcom surge

Money did not leave the chip sector. It moved. AMD rose 5.86% to $585.30 after William Blair upgraded the stock to outperform, and Broadcom gained 5.54% to $364.36. Both led the S&P 500's advancers on the day, as investors bet that Nvidia's troubles would send customers — and market share — toward its rivals.

The rotation is the market's verdict on what the scandal means. Nvidia is no longer seen as untouchable, and the companies that compete with it are suddenly the beneficiaries of its crisis.

The week in context

Thursday's fall capped a devastating stretch. Nvidia is down 11% so far this week, its sixth consecutive weekly fall — the longest losing streak since 2012. The shares are now more than 30% below their October 6 peak, with roughly $1.8 trillion of market value erased in five weeks. Reuters reported the company has lost about $300 billion in market value since its board announced its investigation on Sunday.

Analysts are cutting their forecasts. Truist downgraded Nvidia to Hold from Buy and slashed its price target to $174 from $346. Short sellers, meanwhile, have made about $3.8 billion in paper profits, according to data firm Ortex. Nvidia now trades at around 12 times its 12-month forward earnings, its lowest valuation on that measure since November 2012, according to LSEG data cited by Reuters.

The wider market holds up

Remarkably, the broader market barely blinked. The S&P 500 fell 0.35% to 7,592.40, the Nasdaq slipped 0.39% to 25,366.09, and the Dow dropped 0.36% to 52,297.09. The Russell 2000 fell 1.66% and the Philadelphia Semiconductor Index lost 0.54% to 10,506.67. The 10-year Treasury yield pushed above 5%.

That resilience is the story of this selloff: the damage is concentrated in Nvidia and the AI trade, not spread across the market. Investors are rotating, not fleeing.

What comes next

All eyes now turn to Tuesday, November 17, when Nvidia reports third-quarter results. Interim chief executive Colette Kress will face analysts for the first time as the company's leader, and the numbers — and her guidance — will determine whether Thursday's plunge was an overreaction or the start of a longer decline.