The Kobeissi Letter: What just happened to Nvidia?

Yesterday, Nvidia, $NVDA, broke the all time record for most market cap added by a stock in a single day, adding +$330 billion.

Today, the stock has erased ~$270 billion of market cap since its high seen this morning.

That’s a $600 BILLION swing in market cap in just 2 trading days.

The 3rd largest public company in the world is officially trading like a meme stock.

What is happening here?

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