Nvidia (NVDA) has seen massive outperformance the last few weeks compared to its peers, the Nasdaq (COMP), and other technology stocks I cover. This performance started to concern me when the stock reached toward the $300s - a point where it was only 5.4% off all-time highs. The reward has become minimized, and the risk has maximized.
I realize some catalysts have come to pass, reducing the risk, including the Mellanox (MLNX) deal being approved by Chinese authorities and no pre-announcement in conjunction with scheduling its earnings call. Still, these aren't enough to