Stanley Druckenmiller Admits Selling Nvidia Stocks Was a Big Mistake
Stanley Druckenmiller's Regret Over Nvidia Sales
Duquesne Capital founder Stanley Druckenmiller expressed regret about his decision to sell all his Nvidia stocks, describing it as a 'big mistake.' During a recent interview with Bloomberg on October 16, he revealed that he liquidated his holdings when prices were between $800 and $950.
Investing Insights
- Druckenmiller noted he has made many mistakes in his investment journey.
- He previously held approximately 6.18 million shares but sold them down to 214,000 by the end of Q2.
- If he had retained these shares, their current worth could have reached $1.19 billion.
Future Projections and Market Analysis
Despite this setback, Druckenmiller remains optimistic about Nvidia's long-term potential, indicating he may re-enter the market if prices stabilize. As of October 17, Nvidia's stock was gaining momentum, attempting to reclaim the $140 level. Analysts predict a high of $150, largely driven by the upcoming next-generation Blackwell chips.
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