Reported 9 months ago
Stifel's chief equity strategist, Barry Bannister, comments on Nvidia's recent downturn impacting the S&P 500, stating that the market is overvalued by 10% due to high equity ownership levels and predicts potential market pullback. Bannister estimates the S&P 500 should be at 4900 or even 4750. He warns of lower future returns and advises caution with potential protective puts during the summer and early fall.
Source: YAHOO