Nvidia Plunges 8% on CEO Ouster Reports; AMD & AVGO Climb

$NVIDIA(NVDA.US) plunged about -8% in overnight trading following reports that its board was considering removing CEO Jensen Huang.

The sell-off came amid reports of a second alleged extramarital affair, this time with an Nvidia executive, following earlier reports linking Jensen Huang to a businesswoman suspected of ties to Chinese intelligence.

Amplifying the move, the $NVDA 5xShortSG280726(VU6W.SG) surged nearly +40%, while the $NVDA 5xLongSG280726(KJHW.SG)  fell by a similar magnitude.

Meanwhile, $AMD(AMD.US)  and $Broadcom(AVGO.US) each rose about +1.3% in overnight trading, as investors weighed their potential to benefit as alternative chip suppliers.

The$AMD 3xLongSG280420(Z4WW.SG) and $AVGO 3xLongSG280420(Z8TW.SG) DLCs gained close to +4%, while the$AMD 3xShortSG280622(9PKW.SG) and$AVGO 3xShortSG280420(9FOW.SG) DLCs declined by about the same magnitude.

With attention focused on Nvidia’s board and a potential leadership change, investors expecting further downside can consider the NVDA 5x Short DLC (VU6W), while those anticipating a rebound following the sharp sell-off can consider the NVDA 5x Long DLC (KJHW).

Listed on SGX, US Stock DLCs provide up to 5x leveraged or inverse exposure to selected US stocks, measured on a US market close-to-close basis.

Traded during SGX market hours, these products allow investors to express bullish or bearish views in response to developments after the US market close.

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