Hedge funds are betting billions that a stock loved by millennials is going to plummet (NVDA)
- Nvidia has surged 95% since the election, making it the best-performing stock in the S&P 500 over the period. Now hedge funds and millennial investors are divided over its outlook.
- The stock is the fourth most-shorted by hedge funds right now, judging by dollar amount of short interest, according to a Goldman Sachs study.
- It’s also the sixth most-owned stock holding for millennial investors, according to no-fee trading app Robinhood.
A battle is brewing over the best-performing stock since the election.
The company in question is Nvidia, which has enjoyed a particularly charmed existence since November 8. The graphics chipmaker’s stock price has