Dell Technologies Inc (NYSE:DELL) shares are moving lower in extended trading Monday after rallying more than 6.5% during regular trading hours. Here’s what you need to know.

Nvidia Shuts Down Takeover Speculation

Dell shares jumped 6.71% on Monday following reports that NVIDIA Corp (NASDAQ:NVDA) was looking to purchase a large-scale PC and server manufacturer.

CNBC’s Kristina Partsinevelos said in an X post shortly after the market close, Nvidia confirmed to CNBC that the earlier reports were false and Nvidia was not engaged in discussions to acquire a PC maker.

Dell shares fell more than 3% on the news. HP Inc (NYSE:HPQ) shares were also down about 2.5% after hours, according to Benzinga Pro.

Dell may be facing additional selling pressure in Monday’s after-hours session after a fresh SEC filing showed that CFO David Kennedy sold 19,500 shares of Dell stock last week at an average price of $182.53.

Dell Shares Drift Lower After The Close

DELL Price Action: Dell shares were down 3.34% in after-hours, trading at $183.46 at the time of publication on Monday, according to Benzinga Pro.

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