The remarkable surge in NVIDIA Corp (NASDAQ:NVDA) stock price is causing a widespread fear of missing out (FOMO) in the market, according to Evercore ISI‘s Julian Emanuel. This has led to concerns about a potential market correction.
What Happened: Emanuel, the senior managing director at Evercore ISI, has observed a growing FOMO sentiment among his clients, particularly those who experienced the dot-com boom and bust. This is a cause for concern, as reported by CNBC on Monday.
He pointed out that this is the first time such a sentiment has been observed since 2021, raising an “alarm bell.” In a note to his clients, Emanuel highlighted parallels to the Y2K phenomenon, with the current excitement revolving around artificial intelligence and the belief that the U.S. will avoid a recession.
“The sentiment is very, very bullish. The bears have been eliminated,” Emanuel said, adding, “It's time to think more about risk than reward until we get just a little cooling off.”
Despite the market’s record highs, Emanuel predicts a potential 13% pullback ...
