Why Nvidia Stock Short-Circuited Today
Shares of semiconductors giant Nvidia (NASDAQ: NVDA) suffered a setback today after the U.S. Federal Trade Commission (FTC) announced late yesterday that it is suing to block the company's planned $40 billion acquisition of British company Arm Holdings. New commentary just released by Citigroup isn't helping matters much -- and Nvidia stock is down 6% as of noon ET. The FTC explained that "the proposed merger would give Nvidia the ability and incentive to use its control of this technology to undermine its competitors, reducing competition and ultimately resulting in reduced product quality, reduced innovation, higher prices, and less choice, harming the millions of Americans who benefit from Arm-based products."
