Jensen Huang Resigns: Nvidia Hits $149 as the Market Prices a Post-Jensen Era

Jensen Huang resigned as Nvidia CEO on November 12, effective immediately. He also left the board and his role as president. CFO Colette Kress takes over as interim CEO while the board searches for a permanent pick. The market reaction was brutal. Nvidia closed Wednesday at $173.73 and touched $149 after the open, a drop of roughly 14%. At the time of writing, it trades back near $160. Bitcoin also slipped to $71,500 as US markets opened. Two days ago, a Huang exit looked like the tail risk on my chart. Now it has happened.