BEFORE THE BELL
A cascade of sell orders came in toward the last half hour of trading yesterday.
In fact, that last session printed the most amount of volume for NVIDIA shares all year, and the reaction wasn’t pretty.
While other names in the AI race continue to push higher, NVIDIA is falling behind in price action, slowly losing its leadership status among peers.
There are a few reasons for this weaker vote on the company, least of which the numbers you saw in its latest quarterly announcement.
— Record revenue
— Record earnings and margins
— Positive guidance above current expectations
Yet,
The stock has done nothing but decline since the release, so what is actually going on?
Hint: You’ll find the answer (at least part of it) in Day 4 of our free onboarding program.
CHART OF THE DAY
While the leader of the semiconductors and memory names gets dumped,
The opposite end of the trade, software, continues to break out on the weekly chart (see IGV).
ServiceNow (NOW) pushed by 18% the same NVIDIA shares dumped, and that’s more evidence than people care to look into.
ARE YOU COVERED? —>
With the waves of IPOs coming (OpenAI, Anthropic, SpaceX), the truth is markets will continue to push along without any regard for what’s actually happening underneath.
That’s what you’re here to find out.
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