At a certain point in every investor’s life, there comes a stock that we look back on and determine that we sold too soon. And the professionals are not immune to this either. In fact, billionaire investor Stanley Druckenmiller recently admitted that he made a mistake by selling his Nvidia shares (NVDA), even though he felt the stock was overvalued at the time.
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In a Bloomberg interview, he said he’s still a big believer in AI and may buy back into Nvidia once the market cools down. Although he currently holds no Nvidia shares, Druckenmiller described the company as “wonderful” and said he’s “licking his wounds” from the bad decision.
However, that’s not the only interesting piece of commentary that the billionaire offered.
Stock Market Is Betting on a Trump Victory
Druckenmiller also shared his thoughts on the upcoming U.S. election, noting that the stock market seems to be betting on a Donald Trump victory. He pointed to the strong performance of bank stocks, as well as cryptocurrencies and Trump’s media company, as signs the market expects a win for Trump. According to Druckenmiller, industries that expect deregulation under Trump are poised to benefit the most.
Despite this, Druckenmiller made it clear that he does not support either Trump or Kamala Harris and criticized both of them for their views on government involvement in the economy. He warned that a “red sweep” could lead to a short-term economic boost, but it might also cause problems in the bond market and potentially hurt the stock market’s rally.
Is NVDA a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 39 Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 210% rally in its share price over the past year, the average NVDA price target of $152.86 per share implies 12.4% upside potential.
