From Nasdaq: 2024-11-21 05:06:00

Last week, institutional investors with over $100 million in assets filed Form 13F with the SEC, revealing their stock trades. Billionaire Steven Cohen’s fund, Point72, significantly increased its stake in AI giant Nvidia by 74%, purchasing over 1.5 million shares in the third quarter, betting on the company’s market dominance, pricing power, and computing superiority.

Cohen also made headlines for selling all 3.1 million shares of Amazon, another Magnificent Seven constituent. Despite the potential for downside due to high valuation and market conditions, Amazon remains a leading e-commerce and cloud services platform, making it a key player in the tech industry.

Investors considering Nvidia should weigh the analysis of the Motley Fool Stock Advisor team, which identified 10 other promising stocks for investment. While Nvidia has been a strong performer, past success is not a guarantee of future returns, and diversifying one’s portfolio is essential for long-term success in the market.



Read more at Nasdaq: Billionaire Steven Cohen Increased Point72’s Stake in Nvidia by 74% and Dumped Every Share of This Dual-Industry Leader