CNBC's "Fast Money" Momentum Stocks Hit A Wall… And Gilead’s Shot To The Arm 6/20/24
Jun 20, 2024
Discussion on the decline of momentum stocks like Nvidia, Chipotle, and Netflix. Gilead's positive trial results in the fight against HIV. Market speculation on potential sell-offs and corrections. Boeing and Spirit Air Systems deal analysis. Apple's stock drop and challenges with China's AI restrictions.
AI Snips
Chapters
Transcript
Episode notes
Nvidia's Reversal Pattern
- Nvidia, after hitting a new record high, sharply reversed, along with other hot tech stocks.
- This pullback mirrors a similar pattern from March 8th, suggesting a potential trend reversal.
Semiconductor Sector Pullback
- After a 40% surge in 40 days, the semiconductor sector's pullback isn't surprising.
- This breather is likely a reaction to the euphoric activity and concentrated gains in a few names.
Respect Market Signals
- Respect the market signals and acknowledge potential trend reversals.
- While the underlying story for Nvidia remains strong, the valuation and recent trading activity warrant caution.