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Investing.com -- Nvidia (NASDAQ:NVDA), a prominent technology company, is leading the premarket losses among the Magnificent Seven stocks on Friday. The company’s 50-day moving average fell below its 200-day moving average on Thursday, forming the stock’s first bearish death cross since January 2023.
In addition to Nvidia, Tesla (NASDAQ:TSLA), another member of the Magnificent Seven, is also experiencing a decline in premarket trading, though its decrease is less severe. Tesla’s CEO, Elon Musk, has encouraged employees to retain their stock despite recent challenges.
Other members of the Magnificent Seven, including Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), and Apple (NASDAQ:AAPL), also saw premarket losses, but these were less than 0.5%. Nvidia’s decline was more significant, at 1.1%, while Tesla’s stocks fell by 0.5%.
Collectively, Magnificent 7 stocks are down approximately 15% this year.
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