Nvidia Plunged 14% on CEO Exit, Then Rebounded to Near $170

Nvidia shares plunged nearly 14% after Jensen Huang's departure as CEO, briefly testing the $148–150 area before buyers pushed the stock back toward $170. The recovery came on trading volume of nearly 750 million shares, more than 4.5 times the 30-day average of roughly 166 million, according to TradingView analyst LostPigeon.

That volume figure is the detail traders shouldn't overlook, LostPigeon wrote. It signals extraordinary market participation and potentially significant position reshuffling across the AI semiconductor complex.

What drove the selloff?

Leadership uncertainty did. Huang's exit as chief executive triggered a sharp selloff in one of the market's most heavily traded stocks. The drop stopped short of breaking key support, and buyers stepped in fast.

The rebound brought NVDA back toward the $170 mark. LostPigeon's read: the market may have overreacted to the shock, but a single strong bounce doesn't confirm a new uptrend.

"I don't think Nvidia's AI leadership can be reduced to one individual," LostPigeon wrote. The company's technology, ecosystem, customer relationships and AI infrastructure demand remain important competitive advantages, the analyst argued.

What matters next for NVDA holders?

LostPigeon laid out three factors to watch:

• Leadership transition: whether the new management can maintain Nvidia's product roadmap and execution speed
• Sector momentum: AMD gained 7.32% and Micron surged 11.89%, suggesting broader AI semiconductor demand remains resilient
• Earnings catalyst: upcoming earnings and forward guidance could shift market attention back to fundamentals

The sector moves matter here. If AMD and Micron keep climbing while Nvidia stabilizes, the selloff starts to look like an idiosyncratic reaction to one executive change rather than a verdict on AI demand.

Where are the key price levels?

LostPigeon remains cautiously bullish and flagged $165–170 as the most important support zone. The full level map:

• $165–170: key support; holding this area preserves the current recovery structure
• $180–185: first upside target if momentum strengthens
• $190: next potential resistance
• Below $165: weakens the recovery and raises the risk of retesting $150
• Below $148: invalidates the current rebound thesis

The stakes are clear-cut. A close under $148 doesn't just dent the chart — it kills the rebound argument entirely and opens the door to deeper downside.

How should traders position?

As long as $165–170 holds, LostPigeon prefers looking for further upside rather than prematurely turning bearish. The analyst's base case treats the shock-driven selloff as an overreaction with the recovery still intact.

But the volume warning cuts both ways. With turnover running so far above the 166 million-share average, traders should brace for continued volatility, LostPigeon cautioned. The same crowd that bought the dip can reverse fast if support cracks.

The next real test comes from earnings and forward guidance. Until then, the $165–170 zone is the line that decides whether this rebound has legs or whether Nvidia's leadership shock has another leg down.