Wall Street analysts are almost unanimous in their view that semiconductor giant Nvidia (NVDA) will rocket higher. However, options traders apparently have a different take, placing contrarian wagers against NVDA stock. The situation has now become a matter of which narrative investors trust more. In my opinion, the market is the ultimate arbiter, and it’s not giving the warm and fuzzies over the tech juggernaut. Therefore, I am bearish on NVDA.
Pessimistic NVDA Stock Wagers Go Against the Tide
To be sure, it’s not surprising that some options traders have flipped sides regarding the sentiment battle over NVDA stock. Last week, the tech company – which manufactures the advanced graphics processors that make artificial intelligence what it is today – incurred a fall of 5.1%. This Monday, it was down another 6.4%.
Still, the overall narrative seems bullish on NVDA stock. According…
