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Nasdaq 100 Movers: NVDA, ZS

4 years 2 months ago
In early trading on Monday, shares of Zscaler (ZS) topped the list of the day's best performing components of the Nasdaq 100 index, trading up 6.7%. Year to date, Zscaler has lost about 45.7% of its value.
BNK Invest

Is Nvidia a Buy or Sell Before Earnings?

4 years 2 months ago
In this video, I talk about what to expect from Nvidia's (NASDAQ: NVDA) second-quarter earnings, especially after what companies like Intel and Advanced Micro Devices have shown us these past few weeks.
The Motley Fool

5 Stocks I'll Almost Certainly Still Own in 2030

4 years 2 months ago
Warren Buffett once said that his "favorite holding period is forever." However, there are plenty of stocks that he doesn't even hold for five years. Why doesn't the legendary investor always live up to his ideal? Things change.
The Motley Fool

Notable Thursday Option Activity: COST, NVDA, DUK

4 years 2 months ago
Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Costco Wholesale Corp (Symbol: COST), where a total volume of 17,123 contracts has been traded thus far today, a contract volume which is representative of appro
BNK Invest

Should Nvidia Investors Be Worried About the Crypto Crash?

4 years 2 months ago
While the broader market is having a tough year, crypto investors are faring even worse. With two staples of the cryptocurrency market, Bitcoin and Ethereum, each down around 65% from their all-time highs set in November, it's been a difficult go for anyone invested in crypto. Ho
The Motley Fool

My Favorite Semiconductor Stock Is One You May Not Know About

4 years 2 months ago
We use analog semiconductors, or chips, every day, even when we aren't aware of it. If you drove a car today, you probably used several analog chips. Watch TV on a flat-screen device? It had analog chips. From advanced medical systems like robotic-assisted surgical systems and CT
The Motley Fool

Proposed Crypto Regulation Bill will Ease Crypto Market Volatility

4 years 2 months ago

The tug of war to regulate the cryptocurrency market just got hotter in the United States. On Wednesday, Deborah Ann Stabenow, the Chairwoman of the Senate Agricultural Committee and a Democrat from Michigan, and Senator John Nichols Boozman, a Republican from Arkansas, proposed a bill to regulate cryptocurrencies in the U.S.

Under the proposed bill, the senators seek to make the Commodities Futures Trading Commission (CFTC) the sole regulator of digital commodities, including ether (ETH) and bitcoin (BTC), in a highly volatile industry.

If passed, the bill would increase the operational purview of the CFTC, which has the expertise in regulating derivatives (swaps and futures).

It is worth mentioning here that multiple proposals by various committees have been put on the Senate table over the past few months.

In June, a crypto bill was proposed by Senator Cynthia Lummis, a Republican from Wyoming, and Senator Kirsten Gillibrand, a Democrat from New York. Through the bill, they laid emphasis on regulation and tax treatments of digital assets, along with the roles of the CFTC and the Securities and Exchange Commission.

Further, in July, the House Financial Services Committee was seen framing a bill that sought to enhance the role of the Federal Reserve in the U.S. crypto market.

As of now, the proposed regulators for the crypto market include the CFTC, the U.S. Securities and Exchange Commission, and the Federal Reserve.

What Is Cryptocurrency and How Does It Work?

Cryptocurrencies, which includes bitcoin, ether, tether, and many others, are virtual currencies used for exchange purposes across a wide network of computers. Crypto transactions are secured by cryptography and are not governed by any authority in the United States. These are based on Blockchain technology.

Which Are the Best Cryptocurrency Stocks?

To answer this question, we have selected three stocks from TipRanks' list of the best cryptocurrency stocks in the United States, which are as follows: NVIDIA Corporation (NASDAQ: NVDA), Block, Inc. (NYSE: SQ), and Coinbase Global, Inc. (NASDAQ: COIN).

A brief discussion on these top three cryptocurrency stocks (by market capitalization) from the technology sector, along with a consolidated chart designed using TipRanks’ Stock Comparison tool, is provided below.

NVIDIA Corporation (NASDAQ: NVDA)

The $463.2-billion semiconductor company manufactures and provides cryptocurrency mining processors through its Compute & Networking segment. The company believes that the demand for mining processors is highly dependent on laws and regulations, technological advancements, cryptocurrency prices and standards, and multiple other factors. The company’s CMP HX is a cryptocurrency mining graphic processing unit (GPU).

On TipRanks, analysts are unanimously optimistic about NVDA’s prospects and have a Strong Buy consensus rating based on 25 Buys and five Holds. NVDA’s average price target of $245.55 suggests 32.54% upside potential from current levels. Year-to-date, shares of NVDA have declined 38.5%.

Investor sentiment on the stock is Neutral. The number of portfolios holding NVDA stock has increased 0.5% in the last 30 days while decreasing 0.2% in the last seven days.

Block, Inc. (NYSE: SQ)

The digital payments company’s mobile application, Cash App, equips its customers to purchase bitcoin (a cryptocurrency). In this process, the company generates bitcoin revenues, which accounted for nearly 57% of Block’s total revenues in 2021. On a year-over-year basis, the company’s bitcoin revenues grew 119% in 2021. The high demand and prices of bitcoin could be a top-line driver of this $45.9-billion company in the quarters ahead.

The company commands a Strong Buy consensus rating based on 29 Buys, seven Holds, and one Sell. SQ’s average price forecast of $120.97 mirrors a 52.95% upside potential from the current level. Year-to-date, shares of Block have decreased 51.8%.

According to TipRanks, investor sentiment is Negative on SQ stock. The portfolios with exposure to SQ stock have decreased by 0.6% in the last 30 days and 0.3% in the last seven days.

Coinbase Global, Inc. (NASDAQ: COIN)

The $14.9-billion company operates as a cryptocurrency exchange platform. Customers can access crypto markets in at least 100 countries through its technologies and financial infrastructure. Investments in product development, new product launches, and long-term prospects of the crypto market could help the company deal with near-term volatilities.

Year-to-date, shares of COIN have tanked 73.2%, while its average price forecast of $112.78 commands 67.75% upside potential. Also, the company has a Moderate Buy consensus rating based on 12 Buys, six Holds, and two Sells.

The number of portfolios with investments in COIN has decreased 0.4% in the last 30 days, and 0.1% in the last seven days. Investor sentiment toward the stock is Negative.

Concluding Remarks

It is clear from the above discussion that the U.S. Congress is eager to regulate the cryptocurrency market in the country. The bill by the Senate Agricultural Committee has a strong chance of survival, especially considering the support it has garnered from top officials.

A proper listing of digital commodity platforms, monitoring of trading activities, and disclosure of vital information would protect investors’ interests against any frauds and manipulations. Also, this would eventually help in easing out the volatility in the crypto markets.

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