By coinnews 
00:00 Brian Sozzi
It’s now time for some of today’s trending tickers. We’re watching chip stocks, Nvidia and AMD. Plus we’re also watching hurts. Joining me now we’ve got our very own Alexandra Canal. First up, we got to talk about Nvidia, Ally. Nvidia and AMD, they are falling. They were in the green earlier during today’s session on the back of a solid report from TSMC. Now, they’re continuing some of that selling that we saw during a brutal trading session on Wednesday. Investors eyeing that $100 level for Nvidia, and it seems like we are just within that parking lot right now here. Uh Ally, as we’re taking a look at shares down by about three and a quarter percent for Nvidia right now.
00:53 Alexandra Canal
Yeah. You know, another 3% decline, $100. That’s a psychological level for a lot of investors are thinking, hey, maybe I should be getting into this stock if it’s going to continue this down tick. Now, for a company like Nvidia, there’s been a lot of headwinds, right? We constantly have been talking about this uncertainty with trade with tariffs. Nvidia has promised to, you know, do domestic manufacturing. They’ve uh CEO Jensen Wong has had dinners with President Trump, visited the White House. There was a lot of thinking that Nvidia would be exempt from some of these tariffs. Clearly that did not happen, which is why we’re seeing shares sell off uh today, continuing that sell-off that we saw on Wednesday. Uh if we take a look at that 52-week range, we’re right in the middle there. But year to date, we are down about 25%, which is just astonishing, considering this was a name that really led stocks higher over the past two years and now we’re seeing them uh seeing shares at least do the exact opposite here. So I think the next catalyst, if we don’t hear anything else on the trade front in terms of greater clarity, it’s going to be that earnings report. Strategists have said Nvidia could go the way of United Airlines, maybe giving two different types of guidance. One a solid guidance, then maybe one adjusting for a lot of the uncertainties or at least what we know at this point. But certainly a big company that we constantly talk about. It’s just hard to really know what the future holds when there’s just so many unknowns out there right now.
03:05 Brian Sozzi
Yeah. Well, one thing that I’m looking to take my cues from right now at least is the options market. Based on options contracts, it seems like by the time we see this next earnings print, May 28th is that timing for Nvidia, we could see a move to the upside or downside by about 15.3% as is priced in by options contracts right now. So that is something to keep an eye on here. Also, we’re keeping an eye on shares of hurts. Hurts shares extending gains, bringing the two-day jump in the stock to around 100%. This is on the back of the news that billionaire Bill Ackman’s hedge fund is now one of the top shareholders in the rental car company. Pershing Square Capital disclosing it’s acquired nearly 13 million shares of hurts stock. Shares of hurts higher on today by about 24%. This adds on to the move that we had seen yesterday as well.
04:15 Alexandra Canal
Crazy. Two days of double digit gains. Year to date, this stock is up 100%. Now hurts, it was the original meme stock back in the time of the pandemic. They filed for bankruptcy, then they doubled down on their EV fleet. They purchased around 100,000 Teslas that ultimately did not pay off, as if you’re a renter for a car, you probably don’t want to get an EV if you’re planning to travel far because the infrastructure is just not there yet. There were a lot of concerns over charging stations. So that ended up being a bust. Uh the fact that Pershing Square uh capital’s coming in, they often take activist positions, so investors optimistic about that. Now, this is a company where we talk about a lot of the companies that maybe aren’t doing so well from the tariffs. This is one that could actually benefit because of car prices are going to go higher, perhaps buyers will explore the rental market a little more closely. So that that’s something that we could continue to watch to see if there’s any boon potentially there for a company like hurts. So, uh just a crazy stock, but again, remember, meme-like qualities, fundamentals a little shaky. Uh we’ll see though if Bill Ackman can get the job done.
05:56 Brian Sozzi
It’ll be interesting to see as well of Hertz starts marketing some of, because some of the rental car companies out there, they also offload some of the vehicles that they have when they’re looking to retire them from their fleet. So that’s also another used car sale input. And if they start marketing them as tariff free, uh go in the way of some of the other auto manufacturers, we’ll see what that does for.
06:27 Alexandra Canal
Huge rental.