NVD Stock Summary and Trading Ideas (Graniteshares 2X Short Nvda Daily ETF | NASDAQ:NVD)

The Fund seeks daily investment results, before fees and expenses, of -2 times (-200%) the daily percentage change of the common stock of NVIDIA Corporation (NASDAQ NVDA). The Fund is an actively managed exchange traded fund that attempts to replicate 2x the inverse (-200%) daily percentage change of the Underlying Stock by entering into a swap agreement on the Underlying Stock. The Fund aims to generate the inverse daily performance of the Underlying Stock for a single day. A "single day" is defined as being calculated "from the close of regular trading on one trading day to the close on the next trading day." NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.

Graniteshares 2X Short Nvda Daily ETF trades on the NASDAQ stock market under the symbol NVD.

As of December 13, 2024, NVD stock price climbed to $33.05 with 1,293,758 million shares trading.

NVD has a beta of -5.98, meaning it tends to be less sensitive to market movements. NVD has a correlation of 0.53 to the broad based SPY ETF.

NVD has a market cap of $79.90 million. This is considered a Micro Cap stock.

NVD has underperformed the market in the last year with a return of -81.2%, while the SPY ETF gained +29.9%. In the last 3 month period, NVD fell short of the market, returning -27.0%, while SPY returned +7.8%. However, in the most recent 2 weeks NVD has outperformed the stock market by returning +5.2%, while SPY returned +0.3%.

NVD support price is $29.91 and resistance is $33.29 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NVD shares will trade within this expected range on the day.