Research performed by Zhicheng (Jason) Zhang at DX2 Capital.
Nvidia (NVDA) needs no further introduction, the GPU giant was a Wall Street darling for a stretch of almost 4 years, from 2015 until late 2018. During that period, NVIDIA’s stock price soared by more than 1300%, from $20 (01/2015) to $280 (10/2018). The stock was unstoppable, and every quarterly earnings seemed to be a beat and raise. Its business was taking off, fueled by strong demand and the growth in gaming, AI computing, self-driving, and cryptocurrency.
Numbers then started to cool off