The Wrap: The Big Long, The Big Short, The Big Fear

NVDA performance

Over the past eleven releases since ChatGPT launched, NVDA’s massive 10x rally hasn’t come from earnings-day pops: day-after and week-after moves have typically lagged, while the month before earnings has usually been the strong stretch.

This quarter breaks that pattern, NVDA is flat heading into results, with recent earnings cycles showing weaker immediate reactions and stronger rallies later in the quarter.