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NVIDIA Corporation (NVDA) Stock: A Dead Cat Bounce Or A Fresh Bull Run?

NVIDIA Corporation shares fell by nearly 9% in the last week. With NVDA stock price up by nearly 3% in the last trading session, is NVIDIA stock set for a fresh bull run?


Shares of Sunnyvale, California-based NVIDIA (NASDAQ:NVDA) were brought to a grinding halt in the past week. NVIDIA stock price tumbled by 8.7% in 5 trading sessions for the week ending Feb 24, 2017. The fall was accelerated by a couple of analyst reports from Nomura and BMO capital, which called a sell on NVDA stock with target prices of $90 and $85, respectively. However, the stock seems to have bounced off the negative sentiments, as it started this week strongly, closing the last trading session at a price of $104.41, gaining nearly 3% from last week's close. The latest price action raises important questions for NVIDIA stock investors. Is this a dead cat bounce? Or, has NVDA stock turned the corner? Is it time to buy into the stock?

NVIDIA is Highly Valued, Not Overvalued

In our previous NVDA coverage, we had focussed on the bearish commentary from Nomura's Romit Shah and BMO capital's Ambrish Srivastava. Also in the same post, we had highlighted why the concerns outlined by the two analysts were overblown and that NVDA stock would bounce back as its long-term growth trajectory remained intact. Tigress Financial Partners (TFP) CIO Ivan Feinseth, recently told Benzinga that Nvidia is a "highly...