Prediction: The $500 Billion Reason Nvidia Stock Will Show Bearish Billionaire Michael Burry Who Is Boss

Last week, the tech-heavy Nasdaq Composite index dropped 3%, which was its worst week since April. The other major indexes were also down.This sell-off, which hit tech stocks the hardest, was sparked on Tuesday by the revelation that well-known billionaire Michael Burry's Scion Asset Management hedge fund made big bearish bets on artificial intelligence (AI) stock darlings Nvidia (NASDAQ: NVDA) and Palantir Technologies (NASDAQ: PLTR) in the third quarter.Shares of Nvidia and Palantir declined 7.1% and 11.2%, respectively, last week. Nvidia is the leader in AI chips and related tech and is largely responsible for enabling the AI revolution. Palantir operates an AI-powered data analysis platform.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool