BUZZ - Nvidia stock price drops as the board holds a meeting to discuss the future of CEO Jensen Huang

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November 12 - ** NVIDIA (NVDA.O) shares fell 7.87 % premarket to $160.06

** According to a source familiar with the matter, speaking to Reuters (link), the board is holding a meeting to discuss whether to remove CEO Jensen Huang

** The board meeting comes as the company is dealing with the fallout after reports of its long-time leader's involvement in two extramarital affairs

** NVIDIA has not immediately responded to requests for comment regarding the board meeting, which continued late into Wednesday night

** Under NVIDIA's bylaws (link), Jensen Huang can be removed by a majority vote of the board, “with or without cause”

** NVIDIA has 11 directors, all of whom are considered independent except Jensen Huang

** Oppenheimer, Evercore ISI, and Bernstein among others have downgraded the stock's rating; Bernstein cut its price target to $200

** “We think he is difficult to replace and there is currently no clear successor. His departure is a significant event that could change the investment thesis,” said analysts at Oppenheimer
** “We believe Jensen Huang's departure could result in continued pressure on the stock price in the long term” — Oppenheimer

** NVDA is down 6.8% year to date

Below are the actions taken by various brokerages on the stock this week since the scandal emerged:

(To aid non-native English speakers, Reuters has automatically translated its report into several languages. As automated translation may contain errors or lack needed context, Reuters does not guarantee the accuracy of this automated translation and provides it for reader convenience only. Reuters accepts no liability for any damages or losses caused by the use of automated translation.)