Nvidia's Astonishing 75% Surge In 2024 - Is This Just The Beginning Of A Tech Titan's Unstoppable Rise?
Portfolio Pulse from Zaheer Anwari
NVIDIA Corp (NASDAQ:NVDA) experienced a significant drop on Friday, following a period of remarkable growth where its stock reached an all-time high of $974, marking a 75% increase since the start of the year. This decline, by 11% from its peak, highlights the volatility and risks of high-momentum stocks, particularly in the tech sector driven by AI advancements. The current situation is seen as a correction, with the next support level at the daily 20 simple moving average around $800.
March 12, 2024 | 2:12 pm
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NVIDIA saw a significant drop on Friday, marking a sharp reversal from its recent all-time high of $974. This 11% decline from its peak underscores the volatility in tech stocks, especially those driven by AI advancements.
The significant drop in NVIDIA's stock price, following its rapid ascent, serves as a clear indicator of the inherent risks in investing in high-momentum tech stocks. Given the stock's recent performance and the sharp decline, there's a heightened awareness of the potential for further volatility. The mention of the next support level suggests a critical juncture for the stock, influencing short-term investor sentiment and actions.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100