Earlier this year finding a video card was nearly impossible. The markup on used video cards on eBay was double the new price and all video cards were backordered indefinitely. I’ve voiced my frustration many times in the chatroom about this situation due to the bitcoin miners and at the same time I had been keeping an eye on Nvidia’s stock price as they were the primary beneficiary of this crypto-mania. As they say during a gold rush you make your money selling shovels and NVidia has sold a lot of shovels.
As the bitcoin mania has subsided I noticed I started getting alerts a few weeks ago from my favorite hardware retailer B&H Photo that the various video cards I had been monitoring were back in stock. I checked today and things appear back to normal where dozens of different video cards in all price ranges were available.
Looking closer at the NVDA chart we got within 17 cents of a long term target of $260.67. So far the d target has stopped this rampaging bull. If the crypto-mania decides to take a multi-year long break I just can’t see how NVDA can keep this ballistic rise. Stay tuned in the chatroom for ways to get short this stock by zooming in on lesser timeframes.