Nvidia, Altimmune and Plug Power Shares Fall to 52-Week Lows

what happened

According to Stocktwits, shares of Nvidia, Altimmune and Plug Power fell to 52-week lows on Thursday. Nvidia stock dropped more than 4% after CEO Jensen Huang stepped down amid reports of extramarital affairs. The shares touched $148.80 and have lost nearly 11% over the week. Chief financial officer Colette Kress is serving as interim CEO while the board searches for a permanent replacement.

Altimmune fell to $1.60 after reporting a third-quarter loss of $0.15 per share, wider than market expectations. The company had no revenue, and development spending rose as its lead asset, pemvidutide, moved into a global Phase 3 trial. Plug Power dropped nearly 9% to $1.22. Its $0.07 per-share profit came mainly from $192 million in non-cash accounting gains rather than operations, and the company still has negative gross margins and heavy cash burn.

why it matters

The selloff hit both a major chip company and smaller biotech and hydrogen names, so investors are watching governance and earnings quality as well as sector trends. According to the source, the broader market also faced pressure from inflation worries and hawkish Federal Reserve signals.

market impact

NVDA, ALT and PLUG shares: leadership change and weak results weigh on prices.

• ▼Nvidia shares pressure down — leadership change and uncertainty over a permanent CEO weigh on the stock
• ▼Altimmune shares pressure down — a loss wider than expected and rising clinical trial spending
• ▼Plug Power shares pressure down — profit driven by one-off accounting gains despite negative margins

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