Good News Is Bear News for Nvidia Stock In a bear market, good news can always be spun as bad news. Nvidia (NASDAQ: NVDA ) investors were reminded of this on July 5. The good news is that the chip shortage may be easing. Prices for used gaming cards have plunged . Young gamers who wanted a graphics card for years can now get one, at list prices and lower. But this good news is also bad news. The new supply , from broken crypto miners, is coming as production falls. There are reports Nvidia is cutting back orders from its manufacturing partner, Taiwan Semiconductor (NYSE: TSM ). Ticker Company Recent Price NVDA Nvidia $157.76 The result is that NVDA stock, which was at $286|share in April, traded recently below $144|share. Short Term Weakness During the bull market, Nvidia was a ferociously expensive stock. Now it’s just pricey. At its July 5 price, the company’s market cap of $362 billion is still almost 39 times last year’s earnings, and over 13 times last year’s sales of $27 billion. 7 Best Bear Market Stocks to Buy in July 2022 The good news is that underestimates the company’s power.