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    NVDA has room to drop further

    NVDA goes on amazing runs, but it also has had its fair share of corrections. It’s such a hot stock that their corrections have usually a bit more volatility than a standard defined 10-20%.

    Below corrections I could note in between their epic run:

    Nov ‘21: $32.98
    Jan ‘22: $22.84
    Correction: -30%

    March ‘22: $27.69
    May ‘22: $16.69
    Correction: -39%

    Aug ‘22: $18.71
    Oct ‘22: $12.08
    Correction: -35%

    Edit: Aug ‘23: $49.36
    Oct ‘23: $40.50
    Correction: -18%
    thanks for checking user u/cchud

    Mar ‘24: $96.77
    Apr ‘24: $75.61
    Correction: -21%

    Jun ‘24: $140.76
    Today: $118.11
    Current correction: -16%

    I could see NVDAs current correction still having 500 bps of downward movement. If the investor relation event wasn’t this week I’d be even more certain of it.

    Positions: I recently scalped $1000 off NVDA with 6/21 Puts, and sold 10 shares at $138.

    In short, I think NVDA corrections usually will be greater than 20%. Not financial advice – do what you will with this. Cheers

    NVDA has room to drop further
    byu/odensleep_530 inwallstreetbets



    Posted by odensleep_530

    View 35 Comments

    35 Comments

    3. Careless-Pin-2852 on

      If tomorrow is red i am buying calls 15~20% drop and 4 red days in a row.

      A dead cat will bounce!

    6. Hour-Shelter-3914 on

      Holy sht a stock not at zero dollars can drop? IVE BEEN LIED TO MY ENTIRE LIFE

    7. jonneh on

      Side note: The AI-fueled rally really started in May ‘24 when they blew out earnings expectations and guided way higher than anyone could’ve imagined at the time

    12. FigNugginGavelPop on

      I’d deem the market to be terminally ill if it kept pumping at those levels… I have more confidence that the market is stabilizing now.

    15. XSC on

      Of course i bought at ATH but then again I got in at $15 so whatever. I’ll wait for it to hit 100 to buy more.

    17. Routine-Material629 on

      Meh , this time is different. Nvda has the best profit margin. That usually decides what the most valuable company is. This selloff is simply Nvda employees cashing out and people like you freaking out that a major correction is coming. If it goes below 100 I might change my tune, but I still think Nvda will 10x once more from here. Downvote me

    19. Putrid-Location6396 on

      Oh I’m willing to bet on it. I’ve got 8 different put positions on them, the most nihilistic is 108 @ 6/28.

    22. Business_Rub6149 on

      Since all people here begin to think it’s going down we should reverse to get the actual movement tomorrow lmao

    25. RevolutionaryPhoto24 on

      I don’t think any kitty has died here, and have bought calls with expiry out to November. Hope I can pick up a LEAPS while it’s a bit down.

    28. MiserableExit on

      Galaxy brains buying calls after its ripped for 3 weeks and then buying puts after its already tanked

    29. SweetNSour4ever on

      i sold my 8/16 positions last week for 100% (15k) take gains you idiots

      will be buying back in after mu earnings, expecting a drop

    31. SpongEWorTHiebOb on

      This fucker hasn’t even touched its 50 DMA. Pullbacks to this level are routine. It’s headed to $100 probably lower.

    35. 22Makaveli22 on

      If there’s room to drop there’s room to pop… which means we can both agree there is room!! Calls on rooms to go

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