Key facts
- Vanda said retail net buying of Nvidia in Thursday's first 30 minutes was about 40 times the average for that window.
- Vanda's figure is net of sales, which the report said indicates new retail demand rather than heavy trading volume.
- Nvidia shares touched a 52-week low of $148.80, and 268 US stocks hit new 52-week lows in the session.
- Nvidia is scheduled to report earnings on November 17, with management guidance in focus for AI chip demand.
Retail investors bought a net $111 million of Nvidia stock in the first 30 minutes of Thursday's trading, according to financial research firm Vanda, which compiled the data. Vanda said the figure was about 40 times the average net buying for the same half-hour window and was net of sales, which the report said pointed to new retail demand rather than heavy trading volume.
The buying came against a weak market backdrop. Nvidia shares fell to a 52-week low of $148.80, and 268 US stocks hit new 52-week lows during the session, the report said. Corteva, NIO, Stellantis, AGNC Investment, Sea Limited and Aptiv were also listed as hitting new yearly lows.
The report tied the retail activity to uncertainty over the outlook of the chipmaker, saying CEO Jensen Huang appears to be on the verge of leaving. Nvidia investors are looking toward the company's earnings on November 17, with the results and management's forward guidance in focus for expectations on AI chip demand and revenue growth.