Diamonds and Dogs
9/27/24
Bristol Myers (BMY) jumps on FDA approval for their schizophrenia drug. Bristol rose 1.5% today to a six month high as their new drug to treat schizophrenia works differently than the drugs used by many Americans today to treat schizophrenia. Schizophrenia affects nearly 24 million people worldwide, including 2.8 million people in the US.
Nvidia (NVDA) reverses course, falling 2% after the Chinese government tells domestic companies to not buy Nvidia AI chips and instead to focus sales on domestic AI chips. Chinese regulators have been discouraging companies from purchasing Nvidia's H20 chips for a while, but the new policy isn't an outright ban on Chinese companies buying Nvidia chips but rather guidance as Chinese regulators. Stay tune.
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