(Nvidia on YouTube)
Nvidia will release its second quarter earnings after the markets close on Thursday, and the stock is heading lower in preparation for the release.
Shares are down 2.97% ahead of the company's earnings. Wall Street is expecting earnings of $0.70 per share on revenue of $1.963 billion, according to data from Bloomberg.
Millennial investors are a bit more optimistic. Investors under 30 on the popular Robinhood investing app are buying the stock 11% more than they are selling.
The stock has historically seen big moves around its earnings reports. The stock has moved an average of 10.9% after earnings over the last three years. JPMorgan is bearish and suggests betting against the stock before the earnings report.
Nvidia has had a meteoric rise over the last year. Shares have risen 187.37% over the last calendar year and 63.83% in 2017. Shares are currently trading at about $167.12.
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