Nividia is currently holding its love fest called its GTC. These conferences tend to fire up attendees and frequently the stock gets a pop. Yet that doesn’t seem to be happening with NVDA. Why?
My take is the shallow drawn down we are currently in has made investors reassess their risk tolerance and have moved from growth holdings to defensive / value positions. The reasons for this drawdown run from wars all around, inflation and the Fed drama and …..take your pick. I can see it in the sell off of the growth highflyers including technology, crypto (on a severe decline since last fall) and most recently the parabolic precious metals.
What might end the markets’ decline? Is a rotation back into the growth scoot
in the cards?
Don’t expect an end today….as the triple witching option expiration is one of the largest ever at an estimated $6.4 trillion.
Expect something else to. The largest IPO on record. Space-Ex, valued at $1.7 trillion.
Apparently, Elon Musk has been given permission to include the IPO shares in the technology heavy QQQ index right from the start after the offering, without the required waiting period, more importantly it’s weighting will reflect its full market capitalization. I would expect that to give an enormously boost in interest back to the tech and growth sectors.
Consider buying the dip in the QQQ’s and also take a look at the Renaissance IPO ETF (IPO).
