Nvidia's rise: Why retail traders may want to wait to buy

Nvidia's rise: Why retail traders may want to wait to buy

Retail traders are jumping on the opportunity to invest in chipmaker Nvidia as it reached a $1 trillion market value. Maconomics Financial Expert Ross Mac joins Yahoo Finance Live to discuss when it is the best time to buy or sell a specific stock, like Nvidia. For those who are looking to make a little extra cash, Mac also breaks down how to effectively establish, plan, and build your own side hustle.

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Yahoo Finance

Thu, June 1, 2023, 6:03 AM GMT+9

Video Transcript

- Everyone is watching Nvidia as we close out the month of May. The stock briefly joining the $1 trillion club on Wall Street during yesterday's session. Shares of NVIDIA, though, closing the trading day off just about 5.5%.

Now to achieve that trillion-dollar level, the stock would have to close above 404 just about, $404.86 a share. Now the big question for investors now, is it too late to get in on the stock? Here with some of the stock buying and selling tips content creator Ross Mac, economics financial expert.

Ross, it's great to have you back again. So I think a lot of people are out there wondering if they missed the boat on Nvidia. What do you think?

ROSS MAC: Well, one, thank you so much for having me. And the question of, did you miss the boat? That's obviously a loaded question.

What I would say is short answer is no. What I rush to get in right now, short answer, again, is no. And the reason I say that is here, right?

If you look and ask yourself, what is your time horizon. If you were to look and say, is Nvidia going to be higher five years from now? The answer is probably yes.

If you were to say, should I get in right now? I think you could get in maybe cheaper moving forward, right? I think if you look at certain things, certain indicators right now when it comes to if you should buy a stock, you've got to look and say the vast majority of people that are buying Nvidia currently, they have to understand that the stock right now is very overextended, right?

I think when I ask myself, am I going to buy a stock? I love to look at it and try to get it at a discount, right? And so Nvidia right now, it's a lot of hype. It is arguably-- not arguably.