Pied Piper

We had a bit of selling yesterday after Janet Yellen threw cold water on the idea of insuring all deposits by executive order, but of course the dip is being bought overnight because… Actually the market is being led higher by the usual handful of “tech” stocks, in turn being led by Nvidia. This seller of video cards has had a good run from crypto, where the parallel computing power of the graphics chips can be effectively utilized. But it is winter in crypto land (yes, I know Bitcoin is running but it is lonely) so Nvidia needed a new story. Press releases followed mentioning AI (plausible) and quantum computing (not so much). Anyway the stock has taken off again, now on offer for a mere 25 times sales. Yippee.

Both comments and trackbacks are currently closed.