🔴 NVD ETF (NVD) is trading 4% down today as Nvidia shares firm ahead of earnings

NVD ETF (NVD) is trading 4% down today as Nvidia shares trade firmer ahead of its Q1 FY2027 earnings report, scheduled for release after the close on May 20, 2026.

• The GraniteShares inverse ETF targets -2x the daily move of Nvidia, meaning strength in the underlying stock creates significant downside for the fund.
• Market sentiment suggests traders are positioning for a positive earnings reaction, with broader tech sector strength adding to the pressure on inverse ETFs.
• Nvidia is expected to report its quarterly results after the market close on May 20.