Wells Fargo cuts Nvidia position. Here's why
Wells Fargo said Thursday it has made adjustments to its Signature Picks equity portfolio, reducing its overweight position in Nvidia (NASDAQ:Signature Picks is Wells Fargo’s diverse portfolio of stocks representing the bank’s research department’s top investment ideas.
The move comes after Nvidia shares recovered following a series of consecutive declines that caused the company's valuation to drop from the top spot to third place. NVDA stock jumped nearly 7% Tuesday, reclaiming the $3 trillion valuation tag and alleviating investor concerns that its critical role in the ongoing AI boom may be fading.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.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo says Nvidia 'so much more than GPUs' after next-gen chip announcementWells Fargo says Nvidia 'so much more than GPUs' after next-gen chip announcement
Read more »
Stay invested in the S&P 500: Wells FargoStay invested in the S&P 500: Wells Fargo
Read more »
Wells Fargo sees S&P 500 peaking above 5500Wells Fargo sees S&P 500 peaking above 5500
Read more »
Men’s Big 5 Classic to return to Wells Fargo Center for the next three seasonsThis year's men's Big 5 Classic at the Wells Fargo Center will be on Saturday, Dec. 7. The new women's event is the day before at Villanova.
Read more »
Why Wells Fargo's 58%+ Rise Was Predictable and How to Profit Next TimeStocks Analysis by Investing.com (David Wagner) covering: Wells Fargo & Company. Read Investing.com (David Wagner)'s latest article on Investing.com
Read more »
This is how much Suzano may offer to acquire International Paper: Wells FargoThis is how much Suzano may offer to acquire International Paper: Wells Fargo
Read more »