Nvidia Shares Slump as Leadership Turmoil Puts Focus on Interim CEO and Upcoming Earnings

Nvidia shares closed at $162.85 on Friday, extending a sharp retreat that has erased roughly 29 percent of the chipmaker's equity value over the past month following the sudden resignation of longtime president and chief executive Jensen Huang.

The departure of Huang on Nov. 12 prompted an immediate shakeup across the semiconductor giant's executive suite. Chief Financial Officer Colette Kress was appointed interim chief executive, while longtime director Harvey C. Jones took over as chair of the board, a newly established leadership post at the Santa Clara, California-based company.

The transition marks an unprecedented governance test for Nvidia, which had expanded into the world's primary artificial intelligence infrastructure supplier without a designated chief operating officer or an active formal succession roadmap. Huang's departure triggered volatile trading; on Thursday, the stock dropped as much as 14 percent at the opening bell before rebounding to finish the session down 4.3 percent at $166.19 on more than double its average trading volume.

Market participants are now closely monitoring two near-term catalysts: the appointment of a permanent chief executive and the company's fiscal third-quarter earnings report, scheduled for Nov. 17. In an analysis of post-resignation trading scenarios published by Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/nvidia-stock-scenarios-jensen-huang-205423367.html?.tsrc=rss), market analysts noted that investor attention has shifted from near-term chip sales toward the durability of Nvidia's massive order backlog and executive stability.

Wall Street remains deeply divided on the implications of the executive exit. Brokerages including Raymond James maintained a Strong Buy rating, while Goldman Sachs and BMO Capital Markets held price targets of $220 and $240, respectively. Analysts advocating the bullish position argue that underlying demand for accelerated computing and data center infrastructure remains largely unchanged, noting that Kress has directed the company's financial operations and commercial order book since 2013.

Conversely, brokerages such as KeyBanc and StoneX downgraded the stock, citing governance gaps and headline risk tied to open regulatory scrutiny, including an antitrust probe launched by the U.S. Department of Justice into the company's AI market practices. Other research firms also pared expectations, with Melius Research downgrading its rating to Hold and lowering its price target from $315 to $185.

Technically, the stock faces critical thresholds as it trades near its 52-week low of $148.80. A stabilization above immediate resistance at $172.58 could open room for a recovery rally if quarterly guidance and order volumes reassure institutional buyers, while a breach below $148.80 would signal deeper vulnerability if executive searches extend or regulatory inquiries widen.

Nvidia's leadership and financial performance will face their first direct test without Huang when Kress and executive leadership address institutional analysts on the Nov. 17 earnings conference call.