Is Nvidia’s Rally Running Out of Steam? (NVDA)

Share it with your friends Like

Thanks! Share it with your friends!


Is Nvidia’s Rally Running Out of Steam? (NVDA)
With 14 consecutive quarters of earnings surprises under its belt, the company continues to impress Wall Street with its ability to grow revenue thanks to growing demand for artificial intelligence, data center,
and autonomous vehicle applications that are rapidly commercializing.
Short-selling the stock may be risky given the company’s strong upward momentum with just 5.1% of shares short – although
that figure has increased 7%, according to ShortSqueeze.
The company’s bread-and-butter may have been gaming applications,
but data center revenues have soared from $143 million to over $400 million in just a year.
Since breaking out from its upper trend line resistance to fresh all-time highs, the price has lost some of its momentum and volumes are falling.
Nvidia Corp. (NVDA) has posted an impressive 30%+ rally over the past five trading sessions following its first quarter financial results on May 10.


Write a comment