Analyst at Needham reiterated BUY on NVDA Stock and Price Target changed from $120 to $145 that is an optimistic sign and shows that in the long run, NVDA will stay bullish. That’s why investors and traders are already eyeing the stock with mixed sentiment.
Nvidia beats expectations again, as the market raises the bar higher than ever
Nvidia’s widely anticipated financial statement for the second quarter of fiscal year 2025 (up until July 28) has been announced. Its revenue has once again exceeded the economic forecast of US$28 billion and leaped to 30 billion with a 122% year-on-year.
Jim Cramer at Mad Money shares his take on Nvidia’s quarter and Wall Street’s reaction, according to him, NVDA stock will snap back to reality, because it’s a stock and it is a stock market.
Its a highly volatile stock in coming days, as NVDA earnings are going down more each quarter…. as AI bubble is slowing down, NVDA going down as a result. And It look like a meme stock.
“You can read into that data the changing sentiment about Nvidia’s outlook,” said Will Rhind, CEO of GraniteShares. “As Nvidia becomes more volatile, we seem to be witnessing greater interest in taking a position in the bear ETF.”
Nvidia’s stock dropped after its quarterly forecast failed to meet investors’ lofty expectations.
The number of shares outstanding in the GraniteShares 2x Short NVDA Daily ETF soared 446% between May 21 – just before Nvidia released its previous quarterly earnings – and Wednesday, when the chipmaker issued its most recent results.
That compares to a gain in shares outstanding of only 85% for its bull leveraged product, the GraniteShares 2x Long NVDA Daily ETF.
The discrepancy is even more pronounced in similar ETFs issued by REX Shares and Tuttle Capital Management. The number of shares outstanding in the T-Rex 2x Inverse Nvidia Daily ETF has increased tenfold since Nvidia’s May earnings report.
Leveraged ETFs tied to other widely traded stocks such as Alphabet and Microsoft also exist, but the largest and most active are based on Nvidia and Tesla, reflecting the high profile and volatility of both companies’ shares.
Some new investors drawn to the leveraged bearish ETFs may be worried about volatility in Nvidia itself as each earnings report drives expectations higher, said Scott Acheychek, chief operating officer of REX Financial. Others see the ETFs as a way to hedge underlying long positions or manage tax obligations.
