Josh Brown Sold Some Nvidia Stock Today: Why He Says People Have 'Lost Their Minds'
Portfolio Pulse from Adam Eckert
Josh Brown of Ritholtz Wealth Management sold a portion of his Nvidia (NVDA) stock, citing the stock's excessive rise with over 235% gain in 2023 and an additional 35% in 2024 without substantial news to justify such increases. He expressed concerns over the stock's rapid growth and the market's overly bullish sentiment, despite being optimistic about generative AI's future. Nvidia is set to report Q4 financial results on Feb. 21, with high expectations from investors.
February 06, 2024 | 10:02 pm
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Josh Brown sold part of his Nvidia stock due to its rapid price increase, over 235% in 2023 and 35% in 2024, without significant news. He remains optimistic about AI but cautious about the stock's current valuation.
Brown's decision to sell a portion of his Nvidia stock highlights concerns over its valuation, potentially influencing other investors' perceptions and leading to short-term price volatility. His actions and comments, given his influence and the stock's recent performance, could lead to increased skepticism among investors, possibly affecting the stock's short-term price movement negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100