🔴 NVD trading 3.7% down as Nvidia climbs on high expectations for upcoming earnings report

NVD is trading 3.7% lower today as its underlying stock, NVIDIA (NVDA), gains ahead of its highly anticipated earnings report.

• As a -2x inverse ETF, NVD is designed to deliver amplified losses when NVDA's share price increases.
• Investor optimism for Nvidia is high, with analysts expecting another strong quarter driven by demand for its AI chips ahead of its earnings release on May 20. [10, 11]
• While broader market futures are subdued, the semiconductor sector is showing strength, largely centered on the positive sentiment surrounding the AI market leader.