I can't wait to see the law suits against @Nasdaq if $SMCI goes down.
— Mojo (@Mojo_flyin) December 11, 2024
🚨STOCK NEWS: $NVDA
•Supreme Court holds up lawsuit case on the fact that Jensen Lied about crypto revenue & exposure that led the stock to crash -50%
*they aren’t lying about this year revenue are they? pic.twitter.com/Qwi8YRcn6f
— The Coastal Journal (@1CoastalJournal) December 11, 2024
The recent Supreme Court decision to greenlight a shareholder lawsuit against Nvidia has rocked the tech world. This lawsuit isn’t just another legal tussle; it accuses Nvidia and its CEO Jensen Huang of pulling the wool over investors’ eyes regarding their dependence on cryptocurrency mining revenue. When the crypto market tanked in 2018, Nvidia’s stock took a nosedive, plummeting by over 28% in just two days. Shareholders have been claiming that the company hid how much its revenue was propped up by crypto mining rather than gaming, which is a stark violation of trust and transparency.
This ruling is a major victory for those who believe in holding corporations accountable. It’s a clear message to tech giants: be upfront about where your money’s coming from, especially when it’s from something as volatile as crypto. The 2018 stock crash was a harsh lesson in the dangers of banking too heavily on one sector, particularly one with such unpredictable ups and downs.
Sources:
https://beincrypto.com/nvidia-crypto-lawsuit-supreme-court-decision/