Shares of Nvidia Corp. fell 1.5% in morning trading Friday, after the semiconductor company agreed to pay a $5.5 million penalty, to settle charges made by the Securities and Exchange Commission regarding inadequate disclosures concerning the impact of cryptomining on Nvidia’s gaming business. The company also agreed to a “cease-and-desist” order, the SEC said. The SEC’s order also found that Nvidia failed to maintain adequate disclosure controls and procedures. The agreed upon settlement comes with Nvidia not admitting or denying the SEC’s finding. Nvidia’s stock has not plunged 36.9% year to date, while the PHLX Semiconductor Index has tumbled 24.3% and the S&P 500 sank 14.3%.
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