5 Best Inverse-Leveraged ETFs of Last Week
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2024
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Source: NASDAQ.COM
- Tech Stocks Performance: Last week, the "Magnificent Seven" tech-related stocks collectively lost $950 billion in market capitalization, surpassing a previous record loss.
- Market Trends: High inflation, talks of higher interest rates, geopolitical tensions, and reduced AI investment enthusiasm impacted stock markets. S&P 500 lost 3.1%, Dow Jones slightly advanced, and Nasdaq plummeted 5.5%.
- Winning ETFs: Inverse-leveraged ETFs like TSLZ, TSDD, SOXS, NVDQ, FNGD, and BERZ saw gains amidst the market turmoil.
- Individual Stock Performances: Tesla's stock dropped by 13.6%, losing $76 billion in market cap, while Nvidia's market cap plunged by nearly $300 billion due to a weekly stock drop.
- Industry Impact: ASML Holding reported a steep decline in bookings, affecting the semiconductor industry and key customers like TSMC, Samsung, and Intel.
Analyst Views on NVDQ
Wall Street analysts forecast NVDQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVDQ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 17.210
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Current: 17.210
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
