Stanley Druckenmiller slashed his Nvidia stake by 72% last quarter as the stock nearly doubled
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Billionaire investor Stanley Druckenmiller reduced his stake in Nvidia by 72% in the first quarter, selling 441,551 shares. Druckenmiller had initially purchased Nvidia in Q4 2022 for an estimated average price of about $184 per share. The stock has since surged 391%. Despite the reduction, Nvidia remains the 7th largest position in Druckenmiller's portfolio, valued at about $159 million. Druckenmiller also sold all of his call options in Nvidia, which were purchased in Q4 2023 for a total value of about $242 million. In addition to reducing his Nvidia stake, Druckenmiller initiated a new bullish position in small-cap stocks, with a $664 million bet on call options on the Russell 2000. He also increased his position in copper miner Freeport McMoRan, which is now worth about $65 million. These moves suggest a bullish outlook on the US economy. Druckenmiller believes there could be a structural bull market in copper and that small-cap stocks are poised to benefit from lower interest rates.
#StanleyDruckenmiller #Nvidia #SmallcapStocks #Copper #UsEconomy
https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-trims-nvidia-stake-copper-exposure-13f-q1-duquense-2024-5
Markets Insider /
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2024-05-17 03:55:15
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2024-05-17 03:55:15Event JSON
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"content": "Stanley Druckenmiller slashed his Nvidia stake by 72% last quarter as the stock nearly doubled\n==========\n\nBillionaire investor Stanley Druckenmiller reduced his stake in Nvidia by 72% in the first quarter, selling 441,551 shares. Druckenmiller had initially purchased Nvidia in Q4 2022 for an estimated average price of about $184 per share. The stock has since surged 391%. Despite the reduction, Nvidia remains the 7th largest position in Druckenmiller's portfolio, valued at about $159 million. Druckenmiller also sold all of his call options in Nvidia, which were purchased in Q4 2023 for a total value of about $242 million. In addition to reducing his Nvidia stake, Druckenmiller initiated a new bullish position in small-cap stocks, with a $664 million bet on call options on the Russell 2000. He also increased his position in copper miner Freeport McMoRan, which is now worth about $65 million. These moves suggest a bullish outlook on the US economy. Druckenmiller believes there could be a structural bull market in copper and that small-cap stocks are poised to benefit from lower interest rates.\n\n#StanleyDruckenmiller #Nvidia #SmallcapStocks #Copper #UsEconomy\n\nhttps://markets.businessinsider.com/news/stocks/stanley-druckenmiller-trims-nvidia-stake-copper-exposure-13f-q1-duquense-2024-5",
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