What to Buy in the Wake of Nvidia’s Latest Record Day
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| By Jim Nelson |
If it feels like a different market than five years ago, it is!
We’ve talked before about how much Big Tech matters to the major indices. Not just the Nasdaq. But the S&P 500 too.
The main reason is Nvidia (NVDA).
It is the third largest company by market cap. It is also the most volatile of the trillion-dollar-plus club.
This week, we saw firsthand why that matters.
Nvidia, in a single day, lost $278.9 billion in market cap. That’s the largest one-day loss in history.
These two charts from yesterday’s Wall Street Journal really tell the tale of what this means:
Nvidia now accounts for eight of the 10 largest single-day dollar-value drops for a stock.
As you can see, it also holds the title for five of the top 10 single-day dollar-value gains for a stock.
AND 12 of those 13 moves came just this year!
So, even if you already took your gains in NVDA or never had money in it at all, it’s clear you can’t ignore what the AI giant is up to.
Though, on Tuesday, September 10, at 2 p.m. Eastern, we have something along these lines you won’t want to miss.
It’s our Weiss Ratings’ AI event called “The Next Nvidia: Uncovered.” Check that out here.
Until then, there are other ways to bank some gains. Your experts have you covered.
Here’s what they had to say this week …
A Stable Staple You Can Smile About
You may not ever hear it in the financial media. But consumer staples have been great performers so far in 2024. And with our Weiss Ratings Stock Screener, Gavin Magor shows you how to find the perfect one to make you smile.
Sorry, Kamala, Rent Control Doesn’t Work
There’s no question we have an affordable housing problem in the U.S. But Nilus Mattive doesn’t think the proposed fixes are so great … to put it mildly. He also proposes a related (I swear) question: “What if the Government Capped Dividends?”
Home Buyers’ Bad News is Good for You
Sean Brodrick tackles the housing question from another angle. Who benefits from the proposed policies out of the two political camps? He has an answer AND a way to profit from it.
Profit from the NFL’s AI Pivot
Football season is officially here. But as Senior Investment Writer Karen Riccio found out, there’s a lot going on below the surface. And as with nearly everything else, AI is involved.
IT or AI? This ‘Twofer’ Means We Don’t Have to Choose
Speaking of AI, our tech guru Michael A. Robinson says you don’t have to choose between it and IT for tech profits. He has a “twofer” company positioned perfectly.
That’s all for this week. Have a great weekend!
Jim Nelson
Managing Editor, Weiss Ratings Daily
