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Nvidia (NVDA) released its fiscal third-quarter 2024 earnings after the bell Tuesday night, and it was yet another stellar quarter for the company, as both the Q3 results and forward-looking guidance surpassed Wall Street's estimates. Conventional wisdom might suggest that NVDA shares would be trading higher today after the upside surprise - but the opposite appears to be true, with the stock down more than 3% near the midpoint of the session, despite what looks like a stellar set of numbers.
After the company's Q2 report, Nvidia shares quickly hit a new record high, but couldn't maintain the positive momentum in the days that followed. Now that the stock is down following impressive Q3 revenues and guidance, let's take a look at what’s plaguing the stock’s post-earnings price action.
