Farewell Jensen
The sudden departure of Jensen Huang might well be the best thing to happen for Nvidia shareholders, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
Nvidia rallies off the lows on Huang departure
It’s usually best to rip off a plaster rather than prolong the agony. Jensen’s decision to fall on his sword and leave the company he led to global fame is probably the best thing for the stock and Nvidia itself. After dropping nearly 14% the shares have bounced nicely – while a Congressional investigation is sure to follow, Nvidia can declare the Jensen era at an end. Rock star CEOs can be a great help, but also a terrible Achilles’ heel. For Nvidia, it may well be onwards and upwards from here.
Gold and Bitcoin in fresh rout
Tuesday’s CPI reading was the death knell for the latest gold rally, and resulted in a brutal three day move that has seen it fall to its lowest level since October. With bitcoin en route to hitting $70K again it seems non-yielding assets are out of favour once more. In an inflationary world, these assets are proving to be simply dead weight in a portfolio.
Author
Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.
