NVDA Director Dumps $410M; Lucid Short Sellers Cornered

An NVDA board member sold more than $410 million of shares across seven tranches in just three days, the most significant cluster of insider selling to surface in ORTEX's data in recent months.

Mark Stevens, an independent director at Nvidia, filed on 2 September disclosing sales on 31 August and 1 to 2 September. The largest single tranche was $98.5 million at a time when Nvidia's market cap sat close to $5 trillion. Stevens sold a combined 2.05 million shares across the transactions. The nature of the plan arrangement was not disclosed in the available filing data, so it is unclear whether these were discretionary sales or pre-scheduled under a 10b5-1 programme. Investors should treat that as an open question.

Separately, Lucid Group has drawn attention in markets this week. Short interest stands at 65.9% of free float, the cost to borrow is 15.2% annualised, and just 1.4% of shares needed to cover the existing short position are available to borrow. ORTEX data puts utilisation at 98.8%, near a 52-week peak. With earnings two days away, short sellers have almost no room to add positions. ORTEX's US vehicle registration data shows Lucid posted a record 46 battery-electric registrations in Washington state in September, the highest since 2022.

Rivian also recorded its largest-ever October for New York new-vehicle registrations, reaching 141 units. Its short interest is a more moderate 18% of free float, with ample shares available to borrow at 132% availability.

In activist filings, the ORTEX 13D/G tables were unavailable for query in this session. Any fresh Schedule 13D filings from the past fortnight should be verified directly on SEC EDGAR.