SEMIS VS THE WORLD A lot of people remarking on unusual price movements or earnings reactions. Here’s what is happening… Have you seen those movies where a massive tidal wave is forming and the water recedes dramatically from the shoreline? First, a trip down memory lane: Nvidia reports on May 2024. The stock goes up 10%. It goes up again and again - just like semis today. Then 30 days later it has re-rated and is up 40%. On the first day of that Nvidia move, other stocks trade down. Investors sell what they own to buy Nvidia. Almost indiscriminately. It’s a rare phenomenon. Nvidia then re-traced a portion of the gains after Cathie Wood bot the top, and breadth expansion followed. Today, investors have moved money into semis. Semis have never had such a high weight in
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