The Nvidia stock price trades near $173 on Tuesday, November 10. That is about 29% below the October 6 record of $243.37. The slide sped up this week after CEO Jensen Huang admitted an affair. US intelligence reportedly links the woman to Chinese spying. Meanwhile, Nvidia’s board opened an independent investigation, and Huang says he supports it.
I’m not trading this one. Still, the chart is worth a look, and so is the way crypto rails priced the news first. Below, I cover the story, the levels, and how to trade Nvidia onchain.
What Happened to the Nvidia Stock Price
Nvidia closed at $186.64 on Friday, November 6. Then the weekend happened. On Monday, the stock dropped to $170.24 shortly after the open. It closed at $178.67, down 4.3%. In addition, volume topped 400 million shares, more than double a normal day.
Tuesday brought a second hit. October CPI came in hot at 0.4%, so rate hike odds jumped again. I covered that print in my CPI and Ethereum post. On top of that, Citi cut its Nvidia target to $285, and Wells Fargo trimmed to $300. Both banks kept their buy ratings. Even so, the stock slipped back toward $173.
However, the scandal is only part of the story. Before the weekend, the Nvidia stock price was already down more than 20% from its high. Chip stocks sold off last week on AI spending fears, and Bitcoin fell with them. Our why is Bitcoin down page explains that chain. As a result, the Huang news landed on a chart that was weak already.
Jensen Huang and the Spy Allegations
Here is what we know so far. The New York Times and the Financial Times reported on a relationship between Huang and Alice Huang. They are not related. She is a former executive at Megaspeed, a Singapore data center firm and a big Nvidia customer. According to those reports, US intelligence concluded that China’s top spy agency recruited her.
On Sunday, November 8, Huang emailed Nvidia staff. He admitted an affair and apologized to his family and colleagues. However, he did not name the woman. That same day, the board announced an independent investigation, led by independent directors with outside counsel. Huang’s own line was short. He supports the investigation and will cooperate fully.
Several things remain unproven, though. Nvidia’s board says it has no reason to believe company secrets leaked. China’s foreign ministry calls the spy claims groundless. Megaspeed denies diverting chips to China. Moreover, President Trump said Huang told him he had no idea about any espionage link.
Still, the pressure keeps building. Trump confirmed that the FBI is looking into the matter. House committee chairs asked Huang for a closed-door briefing on November 18. In addition, a shareholder sued Nvidia and Huang on Monday. For now, Nvidia says Huang continues as CEO without interruption.
Onchain Markets Priced It First
This is the part I find most interesting. The news broke on a Sunday afternoon, when Nasdaq was closed. Stock traders had to wait. Crypto traders did not.
Nvidia perps on Hyperliquid started selling off around 3 p.m. New York time. Within half an hour, the contract dropped to about $180 on roughly $200 million in volume. Later, it wicked to around $175 before bouncing. So by Monday’s opening bell, the perp had already done the price discovery.
Those markets run through Trade.xyz, which lists stock perps on Hyperliquid’s order book. They trade 24/7 and settle in USDC. If the setup is new to you, my Hyperliquid vs Trade.xyz comparison explains how the two fit together.
Consequently, weekend headlines no longer wait for Monday. A few years ago, a Sunday bombshell meant a gap at the open and nothing else. Today, anyone with a wallet can hedge or short before Wall Street wakes up. That is a real shift, and this weekend proved it.
Nvidia Stock Price Technical Analysis
The trend is down on the daily chart. Price sits below the 50-day average near $220 and the 200-day average near $205. Furthermore, the stock completed a double top when it lost support at $190. That pattern points to lower prices.
Momentum looks stretched, though. The daily RSI fell to around 29 on Monday. Readings under 30 count as oversold. Therefore, a relief bounce can come at any moment, even inside a downtrend.
Monday also left a gap on the chart. After Friday’s $186.64 close, price never traded back above $180 during the session. Gaps often act as magnets. However, they can stay open for weeks.
Support Levels
- $170: Monday’s low at $170.24. Buyers defended it once.
- $164: the 52-week low from March 30, at $164.27.
- $150 to $152: the double top target and a long-term trendline.
Resistance Levels
- $180: Monday’s high and the bottom of the gap.
- $186 to $190: the gap fill and the broken support.
- $200 to $205: the round number and the 200-day average.
In short, bulls need $190 back before the picture improves. On the other hand, a daily close below $164 opens the door to $150. If these terms are new to you, start with our trading fundamentals series.
Why I’m Sitting Out
I have no Nvidia position, long or short. In fact, I’m flat across the board right now.
The reason is simple. This chart no longer trades on levels alone. Instead, it trades on headlines. One board statement, one FBI leak, or one resignation can move the stock 10% in minutes. Because of that, no stop loss fully protects you from a gap.
The calendar is crowded too. Nvidia reports earnings on November 17, after the close. One day later comes the requested briefing in Congress. So two binary events sit back to back.
Prediction markets add some context. Polymarket traders give about 14% odds that Huang is announced out as CEO by year end. We track that platform on our Polymarket page. To be clear, 14% is low, but it is not zero. Meanwhile, tech analyst Dan Ives thinks the stock could lose 25% to 30% if Huang were removed.
So the upside case is an oversold bounce, while the downside case is a founder exit. I don’t like that trade in either direction. Therefore, I’ll watch from the sidelines and look again after earnings.
How to Trade Nvidia Onchain
You don’t need a broker to trade Nvidia anymore. I learned that the hard way. In 2016, my broker force-sold my shares when I left the Netherlands. The full story lives in my NVIDIA tokenized stock post.
Today, there are three main routes:
- Perps on Hyperliquid. You can long or short NVDA around the clock with leverage. New users can start through our Hyperliquid link.
- Tokenized stock on an exchange. OKX and Bybit list Nvidia next to their crypto pairs. Our guide on how to buy stocks with crypto walks through the steps.
- Stock tokens on Robinhood Chain. These trade 24/7 as well, as our Robinhood Stock Tokens guide explains.
Each route has trade-offs. Perps charge funding, so long holds cost money. Tokenized stocks give price exposure, not voting rights. Moreover, weekend liquidity is thin, and wicks get ugly. For the bigger picture, read our TradFi explainer.
There is even a meme angle. Some meme coins now trade directly against tokenized Nvidia, as covered in our tokenized stock airdrops roundup. Naturally, that is a far riskier way to get exposure.
Keep This Content Free
Covering a stock scandal on a crypto site takes more digging than you’d think. If this breakdown helped, sign up on OKX or Bybit through our links. It costs you nothing extra. Also, check our rewards for active traders page for exchange bonuses, competitions and DEX points programs.
Final Words
The Nvidia stock price lost about 29% in five weeks, and a spy scandal sped up the last leg. Huang backs the investigation and stays on as CEO for now. Meanwhile, the chart is oversold but broken, with $170 and $164 as the lines to watch.
For me, the bigger story sits onchain. A Sunday headline got priced on Hyperliquid before Wall Street opened. That is exactly why stock perps and tokenized stocks keep growing.
I’m sitting this one out until earnings and the Congress briefing pass. Want to know when I do take a trade? Join the AirdropAlert trading newsletter.
FAQ
Why is the Nvidia stock price down?
Nvidia fell after CEO Jensen Huang admitted an affair with a woman US intelligence reportedly links to China. The board opened an investigation. In addition, hot CPI data and AI spending fears weighed on chip stocks.
Is Jensen Huang still the CEO of Nvidia?
Yes. Nvidia says Huang continues to lead the company without interruption. He also said he supports the board’s investigation and will cooperate fully.
What are the key Nvidia support levels?
Support sits at $170, then at the 52-week low of $164.27, and then near $150. Resistance sits at $180, at $186 to $190, and at $200 to $205.
Can you trade Nvidia stock on weekends?
Yes, through onchain markets. Nvidia perps on Hyperliquid trade 24/7, and so do tokenized stocks. However, weekend liquidity is thinner, so moves can be sharper.
When does Nvidia report earnings?
Nvidia reports fiscal third-quarter results on November 17, 2026, after the US market close.
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