CNBC's "Fast Money" Fever Breaking For Momentum Stocks… And Sarepta Surges After FDA Approval 6/21/24
Jun 21, 2024
Podcast discusses the potential slowdown of high momentum stocks like Nvidia, Sarepta's FDA approval for a muscular dystrophy drug, and market concerns over parabolic rises. Analysts upgrade Nike, while discussions include biotech stock surges, bank weaknesses, and stock market insights.
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Momentum Stock Correction
- Several high -momentum stocks like Nvidia, Chipotle, and Costco retreated from recent highs.
- This correction could be healthy for the overall bull market, potentially leading to broader participation.
Don't Be Too Cute
- Don't try to perfectly time the market, especially with volatile stocks like Nvidia.
- Buy in stages (e.g., 20% increments) to manage risk and potentially capitalize on further dips.
Meta's Weakness
- Meta, despite being a top holding in the momentum ETF, hasn't reached new highs since April.
- This divergence suggests potential weakness, especially in its relative performance compared to other momentum stocks.