Nvidia Stock Rises Amid Blackwell Delay Concerns, Wall Street Stays Optimistic
August 12, 2024
Breaking News
Nvidia Stock Rises Amid Blackwell Delay Concerns, Wall Street Stays Optimistic. 🚀 The company shares edged up in early Monday trading, as the company looks to ease concerns over a reported delay in its next-generation Blackwell chips. Wall Street analysts remain confident, with expectations that current-generation Hopper chips will sustain strong sales through 2024, and Blackwell chips will become a key contributor by year's end. MarketWatch reports.
EdgeUp
👁️ WarrenWarning: Tesla’s board faces questions from Elizabeth Warren about Musk’s corporate ‘entanglements’. CNBC reports.
🔄 ReDance: ByteDance to seek refinancing of $5 billion loan. Reuters reports.
📺 Streamount: Paramount shares rise as steady streaming growth eclipses TV unit writedown. Yahoo Finance reports.
💊 IovanceSurge: Iovance Biotherapeutics shares rise 27% after second-quarter revenue beat. MarketWatch reports.
🚀 ExploBoom: Expedia jumps as optimism over profit beat overrides demand warning. Reuters reports.
⚠️ SeatbeltSaga: US auto regulator opens probe into over 330,000 Hyundai SUVs over seat belts. Yahoo Finance reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
1. $PSIG: PS International Group
Total gain: +76.24%
2. $LGMK: LogicMark
Total gain: +31.46%
3. $AIMD: Ainos
Total gain: +45.81%
4. $GNS: Genius Group
Total gain: +19.63%
5. $HUGE: FSD Pharma
Total gain: +10.85%
A Question About Risk
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11am ET, as our Risk Management educator.
Moving Averages as Support and Resistance
Widely used moving averages like the 10, 20, 50, and 200 generally provide the best support and resistance. Why? Because they are widely used.
This effectiveness is partly due to a self-fulfilling prophecy, which is why the more popular moving averages consistently provide the best support and resistance locations.
Support and resistance are easily visible on a chart. However, too many traders treat moving averages as exact prices for support or resistance. In reality, moving averages should be treated as areas where prices might overshoot or undershoot.
Friday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on August 6.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $ITI: Iteris
Total gain: +63.55%
The company announced that it has entered into a definitive merger agreement to be acquired by Almaviva, a private Italian digital innovation group, in an all-cash transaction valuing Iteris at approximately $335 million in equity value. Benzinga reports.
2. $MGOL: MGO Global
Total gain: +57.02%
The stock appeared to be moving on no notable news.
3. $RGC: Regencell Bioscience Holdings Limited
Total gain: +55.04%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
GETR: Getaround
2Q 2024
After Market Close
Estimate: -0.180
Actual: N/A
EYEN: Eyenovia
2Q 2024
After Market Close
Estimate: -0.150
Actual: N/A
SLND: Southland Holdings
2Q 2024
After Market Close
Estimate: 0.020
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
2:00 pm Monthly US federal budget - July
Parting Thoughts
“The essence of investment management is the management of risks, not the management of returns.”
― Benjamin GrahamSourced in:
“The Intelligent Investor”, by Benjamin Graham, published in 2006