From Nasdaq: 2024-05-07 16:42:00

Shares of Nvidia (NASDAQ: NVDA) initially fell 10.7% but recovered to close down 1.7% following comments from Stanley Druckenmiller, who revealed he had cut his Nvidia stake in late March. The recovery was attributed to some investors seeing the dip as a buying opportunity.

Druckenmiller, a renowned investor, recognized Nvidia’s potential in the AI sector early on, but decided to take profits as the stock surged. Despite this, he remains optimistic about AI in the long-term. We will have more clarity on his stake reduction when 13F reports are released.

Nvidia’s stock bounced back without a specific catalyst. Druckenmiller’s comments, while not bearish, led to profit-taking. Future performance may not match past returns, but Nvidia’s Q1 earnings report later this month will provide more insights.

Consider that Nvidia did not make the Motley Fool’s list of the 10 best stocks to invest in now. However, the Stock Advisor team has a proven track record of outperforming the S&P 500 and providing valuable stock picks. Monitoring Nvidia’s Q1 earnings could provide more information for potential investors.



Read more at Nasdaq: Why Nvidia Stock Briefly Plunged and Then Recovered Today