November 20, 2018 / 3:37 PM / 9 months ago

Nvidia shares turn positive after Citron buys stock

FILE PHOTO: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/File Photo

(Reuters) - Shares of Nvidia Corp reversed course after markets opened to gain about 2.5 percent on Tuesday after shortseller Citron Research said it has bought the chip designer’s stock.

"Citron buys $NVDA. This is the first time in 2 years stock offers an appealing risk-reward to investors. $NVDA still a player in AI and Data...will eat through inventory issue. We see $165 before we see 120," Citron said in a tweet here. Shares of the company, which were down as much as 8 percent earlier in the day, were trading at $147.75.

Reporting by Arjun Panchadar in Bengaluru; Editing by Arun Koyyur

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