Nvidia dey face di ongoing legal wahala over crypto revenue disclosure as SEC and DOJ dey support am
U.S. Supreme Court don chop Nvidia request wey wan throway 2018 investor lawsuit wey talk say di chipmaker dey mislead investors about di revenue wey dem dey get from cryptocurrency miners. E don get chance back after e no last, as di 9th Circuit don wake am back, with SEC and DOJ support join. Di lawsuit wey Swedish firm E. Ohman J:or Fonder AB dey lead, dey highlight say Nvidia no fit announce wetin dem dey expose to di crypto market well. Di fall for cryptocurrency prices don cause Nvidia revenue and stock price to drop, wey cause serious losses for investors. Nvidia don settle di same allegations for $5.5 million for 2023, without confess. Even with di legal wahala, Nvidia dey shift to AI, wey don boost dem market valuation to $3.4 trillion, showin strategic change. Dem spokesperson John Rizzo express im disappointment with di ruling, but e confirm say di company dey ready to defend dia actions.
Bearish
Di news wey dey report ongoing legal wahala wey fit happen to Nvidia wey dem dey accuse say dem don mislead investors about di revenue wey dem dey get from cryptocurrency dey cause uncertainty and negative vibes around di company stock. Dis legal scrutiny, especially with SEC and DOJ backing, fit harm Nvidia financial outlook. Even though Nvidia shift to AI na beta strategy, di immediate effects of dis lawsuit and previous similar cases fit make traders dey cautious about Nvidia stock performance. Historically, legal issues wey relate to crypto exposure dey often lead to increased volatility and market skepticism, wey fit turn traders to bearish behavior for di stock and fit spread go di broader crypto market sentiment.