Shares of NVDA are sliding after confirming that Uber fucked up one of their product lines.
Nvidia Corp said on Tuesday it will suspend self-driving tests across the globe after Uber Technologies Inc fatality last week, according to a source at the GPU conference in San Jose, California.
The chipmaker is testing self-driving technology globally including in New Jersey, Santa Clara, Japan and Germany.
Last week, Uber suspended North American tests of its self-driving vehicles after one of its self-driving cars killed a woman in Arizona.
Update: Nvidia tells CNBC that it is "temporarily suspending the testing of [its] self-driving cars on public roads to learn from the Uber incident" https://t.co/6EUbCjII3f pic.twitter.com/QJdAN3ylBz
— CNBC Now (@CNBCnow) March 27, 2018
Self driving cars will happen, so this is merely a pit stop.
On the whole, however, tech stocks are sucking wind. Also, shares of TSLA are getting bitch slapped again, now off by 16% over the past month. Who’s buying?
Here are some noteworthy losers in tech: OSTK, ADBE, TSLA, NVDA, NOW, FB, NFLX, AMD, and of course TWTR.
Chinacoms are pulling in too, led by NTES, WB, YY, VIPS, and HTHT.
The Dow is +200, Nasdaq -15.
Normal day after melt up action. Eat more sandwiches.
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Considering the way Uber treats pedestrians, I think that the more appropriate phrasing would be “so this is merely a speed bump.”.
Rut is divergent as well
Crash position on deck.
I think this is an engineered attempt to shake out weak bulls before EoQ window dressing. The Tech leaders are gettign hammerred, but smaller tech stocks are doign muhc better:
https://www.marketvolume.com/heatmap/stocks.asp?s=NDX&a=1&r=7:
Why would ‘shaking out longs’ ‘into window dressing’ be an agenda?
Whipsawing retail investors is *always* the agenda. Does it reall make sense that we go up 2% one day, then down 2% the next on no new information? Look at the price action in ealry February.
At the same time, if we don’t finish up strong this week:
1) End of Quarter
2) coming off major down week
3) coming into Easter
then that is a very foreboding sign that many can read: unlike Jesus, if this market dies onGood Friday, it won’t rise again anytime soon.
There are much bigger themes than whipsawing retail right now
Elon will need to put his Facebook pages back up.
LOL @ stock market. Just went long some NQ around here (circa 6580) anyway.
Note to the basement-dwelling coiners among us: OSTK is telling you something important about the future of your “investment.” Are you going to listen or lose it all?
Went from long to flat at 9:00 today, whoo. Better lucky than good.