Nvidia stock rally 'likely to result in a swift reversal over coming weeks'
) continues to dominate the stock market, driving broader indices with its extraordinary volume. However, according to BTIG, the hype surrounding the chipmaker’s stock has reached extreme levels, especially following the company's announcement of a stock split on June 7.
“That essentially marked the high for the stock until its earnings last month, and included a 22% drawdown,” BTIG analysts noted. “This type of move as the second largest company in the world is stunning, and in our view, likely to result in a swift reversal over coming weeks,” the investment firm wrote.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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