From Nasdaq: 2024-11-21 04:47:00

Ken Griffin, founder of Citadel Advisors, is one of the wealthiest hedge fund managers, worth around $46.7 billion. Recent filings show he’s loading up on Nvidia and Tesla stocks, increasing his stakes significantly in both companies.

Griffin’s purchase of 4.7 million more Nvidia shares in Q3 boosted Citadel’s stake by 194%. He also bought 1.17 million Tesla shares, nearly quintupling his position in the electric vehicle leader.

Griffin’s recent buys of Nvidia and Tesla stocks in Q3 could be due to the potential growth in the AI chip market and Tesla’s entry into the autonomous ride-hailing market. Both stocks have promising long-term outlooks.

While Griffin’s moves may be intriguing, investors should consider their own goals and risk tolerance before following suit. Nvidia and Tesla may offer strong returns over the long term, but they are not currently trading at the discounts seen in Q3.

Nvidia’s CEO sees a $1 trillion opportunity in accelerated computing, positioning the company for significant growth. Tesla’s robotaxi vehicle and plans for autonomous ride-hailing could propel its stock higher in the future.

Investors considering Nvidia should note that while Griffin bought shares, it wasn’t one of the 10 best stocks identified by the Motley Fool Stock Advisor team. The service has a strong track record of delivering high returns compared to the S&P 500.



Read more at Nasdaq: Billionaire Ken Griffin Is Loading Up on Nvidia and Tesla Stocks. Should You?