Key Takeaways
- A petition to reinstate Jensen Huang passed 108,000 signatures by Saturday, and Elon Musk said he signed it. Nvidia’s board hasn’t publicly responded.
- Altimeter and Atreides asked the board for a slow CEO search that keeps Huang’s return open, but stopped short of calling for his immediate reinstatement.
- Nvidia stock fell to about $162.85 on Friday after six straight weekly losses. It now trades at 13.46 times forward earnings, a one-year low.
- Tuesday’s fiscal third-quarter report, against guidance of $108 billion in revenue, matters more to the stock than the petition does.
NVIDIA (NVDA) holders spent the weekend watching a campaign to bring Jensen Huang back. A “Stand with Jensen” petition asking Nvidia’s board to reinstate its co-founder had more than 108,000 signatures by Saturday afternoon, Business Insider reported, and Elon Musk wrote on X that he was “signing it too.” Separately, two large shareholders asked the board on Friday, Nov. 13, to slow down its CEO search and keep Huang’s return on the table.
Nvidia announced Huang’s resignation as CEO and director on Thursday, Nov. 12, after reports of extramarital affairs. His resignation took effect on Wednesday, Nov. 11, and CFO Colette Kress is interim CEO. The board hasn’t publicly responded to either push. The selling also spread: Advanced Micro Devices (AMD) fell 8.8% on Friday, more than Nvidia’s 2% drop.
What the Letter Actually Asks Nvidia’s Board
Altimeter Capital’s Brad Gerstner posted the letter on X, and Atreides Management’s Gavin Baker also signed it. It asks for a “slow, measured, and deliberate process” that weighs “the potential return of Jensen Huang,” and it stops short of calling for his immediate reinstatement. The petition goes further, asking the board to reinstate Huang while an independent investigation runs.
Neither carries much weight on its own. The two funds reported about 10.7 million Nvidia shares as of June 30, roughly 0.04% of the company’s 24.1 billion shares outstanding, and the petition’s signatures and affiliations are self-reported. What both are really pushing on is the worry that Huang has no natural successor.
The Market Has Already Marked Nvidia Down
Nvidia stock fell 4.3% to $166.19 on Thursday and another 2.01% on Friday, to about $162.85. That capped six straight weekly losses and a 30% slide from the Oct. 2 close.
The multiple has carried that decline. Nvidia trades at 13.46 times forward earnings, its lowest level of the past year and about 40% below its one-year average of 22.46x. At the top of that range, it was 32.52x.
Analysts’ earnings forecasts still point sharply up. They expect normalized EPS of $9.33 for the fiscal year ending in January 2027, nearly double the prior year’s $4.77, and $15.85 the year after.
TIKR Tracks 62 Analysts on NVIDIA. How Many Say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on NVIDIA, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See NVIDIA’s Analyst Ratings
Nvidia’s November 17 Numbers Matter More Than the Petition
Nvidia reports fiscal third-quarter results on Tuesday, Nov. 17, its first report since Huang left, with Kress posting the written commentary. Its own guidance calls for revenue of $108 billion, plus or minus 2%, with no data center compute revenue from China assumed.
That report settles more than any signature count. If revenue lands inside that range and the outlook holds, a 13x multiple looks like a discount on leadership rather than on the business, and the board can afford the slow search the letter asks for. If guidance slips, the leadership question turns into an earnings question, and estimates near $9.33 start to look exposed. Watch the fourth-quarter outlook first.
So What Is NVIDIA Stock Actually Worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what NVDA stock could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Value NVIDIA Corporation for free→
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
