- Quant fund chief Jason Hsu thought Nvidia's rally couldn't last any longer – so talked his mom into selling at $250 a share.
- The chipmaker has surged another 73% since, powered higher by a surge in demand for its semiconductors.
The head of a quant trading fund told his mom to sell her $4 shares when they were trading at just 60% of their current price – and hasn't heard the end of it since.
Speaking to $4 last week, Rayliant Global Advisors founder and CIO Jason Hsu admitted he'd talked his mother into offloading the stock at $250.
Nvidia last traded at that level in mid-March and has climbed another 73% since, taking its total gains for the year to a staggering 198%, as of Friday's closing bell.
"I told my mom, 'Sell Nvidia, you made such a good gain.' And of course then it goes to like $450," Hsu said.
"So every time my mom sees me, she's like, 'I have an idiot for a son. Did you go to school? Did you actually go to school and get a PhD in finance? What is wrong with you?'"
"Until Nvidia falls below $250, I'm going to be putting a hex curse on that stock," he joked.
Nvidia has been one of the biggest success stock-market success stories of 2023, with a $4 helping it to post blowout earnings reports for both the first and second quarters.
Hsu, whose firm $4, isn't alone in thinking that the chipmaker's shares may have become overvalued.
Think-tank Rebellion Research said last month that the semiconductor giant's stock price was now trading in bubble territory – and warned this year's massive rush toward AI could be a modern version of $4.