Nvidia closes at $186.64 as Huang memo tests pre-earnings risk

By Grace Kim

Nvidia closed Friday, November 6, 2026, at $186.64, up $5.04 or 2.78 percent, but down about 10.7 percent over five sessions. StockAnalysis data put Nvidia’s market value near $4.51 trillion, with the shares inside a 52-week range of $164.27 to $243.37.

Nvidia remained below its 20-, 50- and 200-day moving averages ahead of quarterly results. Market calendars scheduled the report for November 17, although the company’s investor relations page had not listed the event when checked.

StockAnalysis showed 62 analysts rating Nvidia a “Strong Buy” on average, with a 12-month target of $327.14. That target stood about 75 percent above Friday’s close, and many targets predated the midterm sell-off. The figure represents analyst consensus, not Nvidia guidance.

What happened to Nvidia shares?

Friday offered investors only a partial and short-lived bounce. Nvidia opened at $191.10 and traded as high as $194.90, within a $185.22-$194.90 range. Volume reached about 180 million shares, and after-hours trading hovered near $188.70.

Thursday’s session proved substantially harsher for Nvidia and its investors. The stock fell 9.3 percent to $181.60, touched $181.46 and traded about 306 million shares. That marked Nvidia’s worst session since January 2025.

The five-session decline reached about 10.7 percent. The one-month loss stood at 21.5 percent.

Why did Friday’s rebound fade?

Shares traded at $193.09 shortly after Friday’s opening bell. That initial 6.33 percent gain lost more than half before the close.

Investing.com identified the $193-$194 gap as first resistance for the session, below the November 4 close near $200 and the 200-day simple moving average near $204.70.

US employers added 165,000 jobs in October, against about 65,000 expected. GoldSilver, citing CME FedWatch, put December rate-hike odds at roughly 80 percent.

Higher rates pressure expensive growth stocks, a risk amplified by Thursday’s AI rout. The S&P 500 recovered only 0.31 percent on Friday. Rob Luna of Schwab Network called Thursday’s sell-off a “delayed reaction” to the midterm result.

Concerns about a Democratic Congress slowing data-center construction and Microsoft’s reported tightening of some neocloud projects also drove Thursday’s decline.

What does the Huang memo mean for Nvidia?

The Financial Times reported Saturday that a memo written earlier this year by US officials said Huang had a romantic relationship with an executive at Megaspeed, a Singapore-based Nvidia customer.

US intelligence believed China’s Ministry of State Security had recruited the executive, according to the report. Authorities have brought no charges and made no public finding of wrongdoing, and Nvidia declined to comment.

Senior Republican House committee chairmen have asked Huang for a closed-door briefing. The request followed a November 5 New York Times report on the same intelligence, CNBC and Invezz reported.

The story broke after Friday’s close, making Monday’s opening the first trading test of the allegations.

Which price levels define the current range?

Investing.com’s Friday technical review placed support at Thursday’s $181.46 low, followed by daily pivots at $171.83 and $162.10, and the 52-week low at $164.27 beneath both levels.

The daily relative strength index recovered to 36.6 from 25.4 on Thursday. That move left it outside oversold territory without restoring a strong reading.

The source’s three scenarios use measured levels, not forecasts:

• Bear, $172: Continued selling from the memo and rate concerns, a break below $181.46 and exposure cuts before results would open the $171.83 pivot. The level sits 7.9 percent below Friday’s close.
• Base, $181-$194: Holding Thursday’s low would keep the stock inside that range. Buyers would wait for November 17 before paying above the $193-$194 gap.
• Bull, $200: Softer October CPI, buyers filling the gap and positioning ahead of results could retest the November 4 close near $200. The level sits 7.2 percent above Friday’s close.

What can move shares before the results?

• Monday’s open: The first market response to the Financial Times report on the Huang memo.
• November 10 CPI: US October consumer prices arrive at 8:30 a.m. ET. A hot reading could push December hike odds higher. CoreWeave and D-Wave report the same day.
• $181.46: A close below Thursday’s low would open the $172 pivot area.
• November 11-12: Nebius reports on November 11 and Cerebras on November 12. Their scheduled AI infrastructure results will shape expectations for Nvidia’s own report.
• November 17: Nvidia reports quarterly results and guidance, according to market calendars.

The source links AMD’s previous quarterly report to show how the market received the last major chip report before the rout. That reaction offers a reference for Nvidia’s November 17 results and guidance.

US markets were closed for the weekend when the report updated at 00:30 GMT on November 8. Regular trading resumes Monday at 9:30 a.m. ET.

Until Nvidia reports on November 17, the reported memo allegations, rate expectations and results from competing AI infrastructure companies will shape the competitive backdrop for its business.