Nvidia share price: down about 23% from its record, earnings Nov 17

How far it fell. Sources give different numbers because they count on different days. On closing prices, 24/7 Wall St says the stock was 21.96% below the $239.24 record on November 6, a market value loss of about $1.27 trillion. Benzinga on November 8 writes of a 23% fall and a bear market. Forbes on November 6 wrote of 25% and about $1.4 trillion. A bear market usually means a fall of more than 20% from a peak. We use the most recent dated figure, 23%, and list the gap under unknowns.

How it fell. The worst day was Thursday, November 5: the stock fell 9.26% to $181.60. For the week it lost 8.76%, its worst week since early April 2025. The S&P 500 lost 2.68% on the week and the Nasdaq Composite 3.37%, so most of the damage hit chips. Friday brought a bounce.

Why. The main reason, per Forbes: data centers are built with debt, rates are high, and investors punish firms with negative cash flow. Fewer new sites would mean fewer Nvidia chips needed. The second reason is politics. Per 24/7 Wall St, global markets and data editor Jared Blikre tied the November 5 drop to Democrats winning both chambers of Congress after campaigns against data centers. Benzinga points to the risk of bans on new centers, especially in Texas. Forbes, citing CNBC, says Texas Governor-elect Gina Hinojosa wants an immediate moratorium. Benzinga adds a general worry about AI: Ken Griffin and Ray Dalio have warned of a bubble.

What the business says. Forbes: Nvidia's revenue grew 106% last quarter and beat expectations. The company's guidance for the current quarter is $108.0 billion, plus or minus 2%. Analysts, per Benzinga data, expect $108.9 billion, up 91% from a year earlier. But Forbes notes the stock fell after six of the last ten reports, even when the firm beat estimates.

When the report lands. Nvidia says the call is on Tuesday, November 17, at 2 p.m. Pacific time. That is 5 p.m. in New York and 22:00 UTC, so early morning on November 18 in Singapore and in the small hours in India. The quarter ended October 25, 2026. Results are due at about 1:20 p.m. Pacific, and written commentary from CFO Colette Kress goes on the investor site right after.

Nearby. Separately, Nvidia's board announced an independent review on November 8. We cover it in its own story: https://freekonomist.com/news/nvidia-ceo-jensen-huang-board-investigation-2026-11-08/. This story is about the share price, and we do not offer forecasts or buy and sell advice. Live price and chart: https://freekonomist.com/stocks/nvda/.

Hechos confirmados

• On November 6, 2026, NVDA closed at $186.71, up 2.81% on the day, but the week was its fifth straight losing week.^[2]
• The record close of $239.24 came on October 6, 2026. At the November 6 close the stock was 21.96% below it, a market value loss of about $1.27 trillion (24/7 Wall St estimate, November 7).^[2]
• Benzinga wrote on November 8 that the stock had fallen 23% from its peak and entered a bear market.^[3]
• Forbes wrote on November 6 of a 25% fall from the October 6 peak and about $1.4 trillion in lost market value.^[4]
• On November 5 the stock fell 9.26% to $181.60. For the week to November 6 it lost 8.76%, its worst since the week ended April 4, 2025.^[2]
• In the same week the S&P 500 lost 2.68% and the Nasdaq Composite 3.37%.^[2]
• Forbes: higher borrowing costs and political opposition to data centers could slow construction, and so chip deliveries to customers.^[4]
• 24/7 Wall St: editor Jared Blikre tied the November 5 drop to Democrats winning both chambers of Congress after campaigns against data centers.^[2]
• Benzinga: the risk of bans on new data centers rose after the elections, especially in Texas. Forbes, citing CNBC: Texas Governor-elect Gina Hinojosa wants an immediate moratorium.^[3][4]
• Nvidia will hold its call on third-quarter fiscal 2027 results on Tuesday, November 17, at 2 p.m. Pacific (5 p.m. Eastern). The quarter ended October 25, 2026.^[1]
• Results are due at about 1:20 p.m. Pacific, and written commentary from CFO Colette Kress will be posted on investor.nvidia.com right after.^[1]
• Nvidia's guidance for the quarter is revenue of $108.0 billion, plus or minus 2%.^[2][4]
• The average analyst estimate per Benzinga data is revenue of $108.9 billion, up 91% from a year earlier.^[3]
• Forbes: the stock fell after six of Nvidia's last ten reports, even though the company beat estimates.^[4]

Implicaciones

• ConfirmadoNvidia will report on November 17. The company itself set the date.
• Nuestra lecturaSources explain the fall by data center building risks and politics, not weak sales. That is their reading, and nobody has proven the exact cause.
• Nuestra lecturaA good report does not guarantee a rise: per Forbes, the stock has also fallen after strong reports. This is our view, not a forecast.

Todavía no se sabe

• The exact size of the fall: 21.96% at the November 6 close (24/7 Wall St), 23% (Benzinga, November 8), 25% (Forbes, November 6). Estimates of lost value also differ: about $1.27 trillion and about $1.4 trillion
• Which cause matters most: the cost of credit, politics or general worry about AI
• Whether bans on new data centers will really be introduced, and where
• What Nvidia will say on November 17 about revenue and customer plans
• How the stock will trade after the report

A quién afecta

United States, India, Singapore. Holders of Nvidia shares and Nasdaq index funds, anyone following the AI sector, readers in India and Singapore where this search is rising

Fuentes

1. NVIDIA Newsroom: NVIDIA Sets Conference Call for Third-Quarter Financial Results 28 de octubre de 2026 · oficial
2. 24/7 Wall St.: Nvidia Is Worth $1.3 Trillion Less After Its 5th Straight Losing Week 7 de noviembre de 2026 · medios
3. Benzinga: Nvidia Stock Loses Key Support, Enters Bear Market as Earnings Loom 8 de noviembre de 2026 · medios
4. Forbes: Nvidia Stock Is Down 25%: What Investors Should Watch Next 6 de noviembre de 2026 · medios