Nvidia (NVDA) yesterday touched $120 in the pre-market
Then Citron released a bearish report
Noted short-seller Citron said that Nvidia’s stock price had come up too high, too fast.
Nvidia is up 238% this year.
It forgot to mention AMD, one of its competitors, is up 303% this year.
Citron gave Nvidia a $90 price target.
Yesterday Nvidia had its worst day of the year.
It went down 6.9%.
It closed at $109 yesterday
It opened lower this morning
It opened at $104 this morning.
It went down to $102.
Then a positive report by Goldman Sachs came out.
Goldman Sachs advised people to buy March calls.
It cited two upcoming events that will help Nvidia’s stock price.
Nvidia’s CEO will be the keynote speaker at the annual CES show in Vegas.
It starts January 5th. Nvidia has gone up 4% on average during the CES event for the past 5 years!
Plus Nvidia reports earnings in February.
It’s beaten earnings the past 8 quarters.
And the stock has gone up 19% on average 1 week after reporting earnings.
Investors liked what they heard from Goldman Sachs.
Nvidia reversed course and finished in the green
It ended the day at $111
And kept climbing after-hours.
It’s over $113 after-hours.
It looks like the winner for now is Goldman Sachs
And their investors!
» Subscribe to TwinsTalkStocks: http://bit.ly/SDTTS
About TwinsTalkStocks: Join 9 year old twins, Devin Kalel and Ashay Jorel, as they talk about the stock market. Whether you want to save up for college, buy a new car, make a down payment on a house, save up for a vacation, or just make some extra money to pay some bills, Twins Talk Stocks can help you!
Connect with TwinsTalkStocks Online