Nvidia Ends a Sixth Straight Losing Week at $162.85, Down 30% Since 2 October and the Longest Streak Since 2012
The chipmaker closed Friday 2% lower at $162.85, 12.8% down on the week, with HSBC cutting its target to $170 and quarterly results due on Tuesday from a stock investors no longer trust.
Friday, November 13, 2026/2 min read
Six weeks ago Nvidia closed a Friday at $233.95. On 13 November it closed at $162.85. That is a fall of about 30 percent, and it came without a single positive week in between, according to the price history on StockAnalysis.
Friday's move was small by the standards of a rough fortnight: the shares slipped 2.01 percent after Thursday's 4.34 percent drop. But it was enough to lock in a sixth straight weekly decline, the longest run for the stock since October 2012, Reuters reported. Over the five sessions, the shares lost about 12.8 percent from the $186.64 they closed at on 6 November.
How long has Nvidia's losing streak lasted?
The weekly closes tell the story. From 2 October the stock fell to $229.28 on 9 October, $214.13 on 16 October, $210.96 on 23 October, $204.64 on 30 October, $186.64 on 6 November and $162.85 on Friday. More than half of the damage came in the last two weeks.
Before Friday's open, MLQ.ai calculated that the six-week slide had cost Nvidia roughly $1.6 trillion in market value, enough to drop it below Apple in the rankings of the world's most valuable companies. Our earlier report on the slide covers the first week under interim chief executive Colette Kress.
Why did Nvidia shares fall again on Friday?
The common thread is confidence rather than demand. Jensen Huang resigned as chief executive on Thursday, and Reuters quoted analysts saying that his absence as the face of the AI boom has raised questions about how durable the AI trade is. One of them described a loss of confidence in the company.
On Friday, Yahoo Finance reported that HSBC analyst Frank Lee had downgraded the shares to hold and cut his price target to $170 from $375. That target sits only about 4 percent above Friday's close. Lee's view, as Yahoo summarised it, is that the stock will struggle until Nvidia names a permanent chief executive.
The pain also reached the wider market. The Nasdaq Composite fell 0.91 percent on the day, even as it finished the week up 2.3 percent.
What should investors watch on Tuesday?
Nvidia reports fiscal third-quarter results on 17 November. Analysts polled by LSEG expect about $109 billion of revenue and earnings growth near 90 percent, according to a Reuters preview in The Globe and Mail, figures that would ordinarily be cheered. The question this time is less about the quarter than about guidance, supply commitments and who will lead the company next.
A strong report and a clear succession plan could end the streak next week. A weak outlook, with the stock already 30 percent below its early-October level, would test how much bad news is left in the price. Either way, Tuesday's call will be watched closely by anyone who owns a technology fund.
Published in The Outspoken Digest
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