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Why Nvidia Stock Was Dropping on Monday

John Ballard, The Motley Fool
·2-min read

Shares of Nvidia (NASDAQ: NVDA) were trading down almost 3% after the market open on Monday after Morgan Stanley cautioned investors about the potential for slowing demand in graphics processing units (GPUs). As of 12:32 p.m. ET on Monday, the stock had recovered but was still down 1.4%, with the Nasdaq Composite down 0.4%. Morgan Stanley believes Ethereum's planned shift to a proof-of-stake model could slow demand for GPUs that are used to mine cryptocurrencies.

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