Nvidia’s (NVDA) stock price may be 26% higher than it was a day ago, skyrocketing off the news of an impressive earnings report. But Keith McCullough’s view of the company remains unchanged.
“Don’t confuse me being the author of #MOAB as that being bearish for Nvidia,” explains Hedgeye’s CEO in this clip from The Macro Show. “Every single day it says ‘Bullish Trend: Nvidia.’ It’s been signaling higher highs.”
Two things can be true: A stock can be bullish trend, while still acknowledging it’s at the center of an AI-fueled bubble. And make no mistake – that bubble is now larger than ever.
“Of all the things we’ve seen: Bitcoin at $68,000, SPAC Jesus, you can go on down the line. Everything we’ve seen just confirms this may be the biggest sign of us being absolutely, fundamentally right that this has been and continues to be the Mother Of All Bubbles,” McCullough adds.
Watch the full clip above.