Four times a year, we all gather around our screens and await the deployment of the latest Nvidia quarterly report. Today was no exception, and although the immediate reaction to the earnings was extremely blase, as the evening wore on the stock took on a small loss.
There was so much optimism around the NVDA event that the mere fact that the stock wasn’t exploding after hours resulting in every asset with a ticker symbol slipping into the red.
The NASDAQ in particular was weighed down, giving up much of its gains that it had enjoyed on Wednesday during the regular session.
Not surprisingly, most semiconductor stocks are falling in sympathy, including the newcomer (only public for about a week) Cerebras.
What’s amusing to me is that younger traders have never seen a bear market. The closest they’ve come is maybe watching some clips from The Big Short. Yet this post from /wallstreetbets, which I stumbled upon today, captures the zeitgeist of the younger generation perfectly. (Click image to read more easily)
This isn’t a joke. They truly and fully believe this.
