Nvidia (NASDAQ: NVDA) stock was down by as much as 3% at 10:35 a.m. ET Tuesday -- before turning around, erasing its losses, and heading higher in early afternoon trading. The reason for the sell-off was no great mystery: Nvidia just called off its planned acquisition of Arm Holdings from Softbank (OTC: SFTB.Y). As Reuters reported Monday night, Nvidia and Softbank have "shelved" their planned deal for the former to buy the latter's Arm Holdings semiconductor subsidiary -- a deal that started out valued at just $40 billion, but had soared to the point where it would have cost the buyer something closer to $65 billion, thanks to Nvidia's gravity-defying stock price. Read More...
Nvidia (NASDAQ: NVDA) stock was down by as much as 3% at 10:35 a.m. ET Tuesday — before turning around, erasing its losses, and heading higher in early afternoon trading. The reason for the sell-off was no great mystery: Nvidia just called off its planned acquisition of Arm Holdings from Softbank (OTC: SFTB.Y). As Reuters reported Monday night, Nvidia and Softbank have “shelved” their planned deal for the former to buy the latter’s Arm Holdings semiconductor subsidiary — a deal that started out valued at just $40 billion, but had soared to the point where it would have cost the buyer something closer to $65 billion, thanks to Nvidia’s gravity-defying stock price.
