The stock is up $11.32 (+5.97%) to $200.86, picking up a chunk of Monday's $16.13 loss.
Here's nine months of daily action from FinViz:
Nvidia's earnings report — specifically its forecast for the current quarter — is likely to disappoint Wall Street this week, claims Susquehanna's Christopher Rolland, but he's upgrading the stock anyway.
"To be clear, this is not a call on NVIDIA's quarter… in fact, we think the odds are substantial that management's guidance will miss the Street's 4Q," wrote Rolland in the note to clients on Tuesday. "However, we believe the company's near-term issues should pass in a quarter (or two), while valuation supports greatly reduced estimates and longer-term opportunities abound."
Rolland upgraded Nvidia to the firm's "positive" rating from neutral. He lowered his price target to $230 from $250 however.
The once high-flying chip stock and favorite of traders has gotten pounded during this stock market correction which began in October. The stock is down 23 percent in the last one month and is now in the red for the year. Nvidia shares rose 1.6 percent to $192.55 in premarket trading Tuesday.
Nvidia hit an all time high of $292.76 on October 2nd before the selling began. The company reports Thursday after the bell....MORE
