NVIDIA shares took a big hit on Thursday, dropping to their lowest point in seven months after NVIDIA CEO Jensen Huang resigned amid scandal.
The stock slid as much as 14% during the day, but retail investors jumped in fast, snapping up $111 million worth of shares within just 30 minutes, a record for NVIDIA.
Colette Kress named interim CEO
Huang's exit follows some serious allegations involving an alleged Chinese spy and company employees, which rattled investor confidence.
Since its October peak, NVIDIA's stock has lost over 30%, wiping out more than $1 trillion in value.
Still, the company doubled its revenue versus the same quarter a year earlier (the previous fiscal year) to $96.2 billion this quarter.
For now, CFO Colette Kress is stepping in as interim CEO while the search for a new leader is on, and everyone's watching to see how this shakeup will shape NVIDIA's future.