(NVDA) Nvidia Is Most Important Stock on Earth, Goldman's Scott Rubner Says
Feb 21, 2024 - bloomberg.com
Goldman Sachs Group Inc.'s trading desk has labeled Nvidia Corp. as "the most important stock on planet earth," ahead of its high-stakes earnings report. The report is expected to cause significant market movement, with options positioning suggesting an 11% shift in either direction.
Nvidia, a leading figure in AI, has a substantial influence on financial markets due to its weight on indexes and the high number of long positions in the stock. The company alone has accounted for one-third of the Nasdaq 100 Index's gains this year.
Key takeaways:
Nvidia Corp.'s earnings report is considered a significant event in the markets.
Goldman Sachs Group Inc.'s trading desk has called Nvidia "the most important stock on planet earth."
Options positioning implies about a 11% move in either direction for Nvidia's stock.
Nvidia alone has been responsible for one-third of the Nasdaq 100 Index’s gains this year.
