Thursday, December 29, 2016
Nvidia: Pump The Brakes
Nvidia hit a new high to start trading Wednesday to cap a remarkable run from the lows to start 2016.
Despite the excitement over end market opportunities, most of the stock gains came from multiple expansion.
The analyst community became too bullish allowing for a contrarian play by Citron Research to easily take down the stock.
When a stock soars and analysts upgrade the price target, one has to question if the positive momentum is too much. Such the case incurred with
) the last couple of weeks.
on Seeking Alpha.
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