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Why We Trimmed Nvidia Ahead of the Upcoming Stock Split
We locked in a gain of more than 50% on a portion of our shares Tuesday.
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We were asked why we opted to trim back our position in Nvidia NVDA Tuesday rather than wait until the 10-for-1 stock split occurs on June 7.
We've seen NVDA shares drift higher so far this week, following CEO Jensen Huang’s comments at Computex and a few price target increases across Wall Street. Our view is the 10-for-1 split is largely cosmetic, and we’d rather lock in the more than 50% gain on our original NVDA purchase — especially if Thursday’s May Non-Manufacturing PMIs surprise the market.
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At the time of publication, TheStreet Pro Portfolio was long NVDA.
