NVIDIA Stock Sold Off by Senator Amid Broader Sell-Off

NVIDIA's stock has seen a recent sell-off, including by Senator Sheldon Whitehouse. According to a filing, the senator disclosed selling between $15,001 and $50,000 in NVIDIA stock on August 13th.

This is not an isolated incident, as the senator also recently made other trades involving various companies, including Lam Research, Amgen, Lowe's Companies, Crown Castle, Coherent, Micron Technology, Apple, and more. The sales represent a small portion of their remaining holdings, limiting their significance but potentially weighing on sentiment.

NVIDIA has had an impressive year so far, with revenue growth above 100% and a net margin of 63.7%. Analysts have reaffirmed Buy ratings with price targets of $300 and $390, respectively. However, rising memory and optical-networking costs could pressure gross margins even if demand exceeds supply.