Nvidia (NVDA) stock is down on the news that CFO David White has resigned ‘œfor personal reasons.’ He will remain an employee through May 31.
We have no reason to doubt veracity of the claim by Nvidia that the departure is for personal reasons. Apparently some investors disagree as is evidenced by drop in Nvidia stock. It is never a good sign when departure of the CFO follows break down in the stock price.
A bullish analyst on Nvidia tries to alleviate the negative effect by stating , ‘œWhite is leaving the company with a very clean operating model and balance sheet. We believe the company is poised for margin expansion based on many new products and new markets”
We will maintain our short position on Nvidia.
