Nvidia stocks jump back up after ex-CEO Jensen Huang's ousting
by https://www.pcgamer.com/uk/author/james-bentley/ · PC Gamer
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This week has been a mess for Nvidia, with its CEO, Jensen Huang, admitting to an affair on Sunday, only for a second affair allegation to come out yesterday. Today, Nvidia shares started as low as $151 in pre-market trading, but have since bounced back to between $163 and $166 in the opening hours of Nasdaq trading after the announcement of Jensen Huang's retirement as CEO.
One might assume a downward trajectory with Huang's resignation, and CFO Colette Kress replacing him, as it could flag instability to shareholders, but the stock price now sits where it once sat on Wednesday, November 11 at 5 PM ET. The Nvidia stock price has been unruly this week, dipping by $15 between Friday night and Monday morning, then climbing to $181 by the end of Monday, then once again dropping to $167 on Tuesday.
But, importantly, this morning saw the worst trade open for Nvidia stock since June 2025, just before the memory crisis started. The jump from $151 to around $165 represents a 10% increase for the company.
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Naturally, stocks are a fickle business, and, famously, the 'dead cat bounce' effect describes a moment in a stock decline where it briefly recovers. But Nvidia, even with a big loss in market cap value, is still an incredibly successful company worth multiple trillions of dollars at the time of writing.
I had my eye on the trading value this morning, somewhat expecting a decline after the opening, given the drop overnight, and it's easy to see why. Jensen Huang is a cofounder of Nvidia, which at one point was the most valuable company in the world. He has been the president and CEO of the company since 1993, and he's no doubt been instrumental in the business and its success.
And this morning, many big names in the tech industry expressed their sadness at his departure. Tim Sweeney, the Epic Games founder and CEO, said it was "A sad day for Nvidia, developers, America, and all humanity", and Clement Delangue, the co-founder and CEO of AI platform Hugging Face, said, "This whole thing sucks, and I wish none of it had happened. It’s a really sad day". Jim Cramer, the host of Mad Money on CNBC, said "Jensen we hardly knew yah. Just plain awful...."
Colette Kress has taken over, but only in the interim, and Nvidia is no doubt shopping around for the person who will replace Huang. Bets are open on who exactly that person could be, from the CEO of Intel, AMD, and Arm, all the way to Elon Musk. And Donald Trump even wants ex-Apple CEO Tim Cook to take the chair. It's anyone's guess, really, and a good sign that it's also hard to guess exactly what will happen when it comes to stock prices.
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