Top 2024 ETFs tied to one stock: Nvidia

Published On Nov 20, 2024, 2:31 PM

Nvidia's market cap has reached $3.5 trillion, making it the largest U.S. company. The best-performing ETFs in 2024 are heavily tied to Nvidia, with products like T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) and GraniteShares 2x Long NVDA Daily ETF (NVDL) posting gains over 400%. With Nvidia's stock rising over 200%, positive earnings are expected with EPS projected to increase by 90%. Investors can also consider inverse ETFs to hedge against losses in Nvidia stock.

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Stock Forecasts

NVDXView NVDX chart on TradingView

Positive

Nvidia's remarkable growth and expected disclosure of significant earnings positions it favorably for investors. The ETFs that leverage Nvidia's stock price are experiencing explosive growth, making them appealing for short-term profit generation. However, caution should be exercised due to the inherent risks associated with leverage.

NVDDView NVDD chart on TradingView

Negative

As Nvidia faces potential volatility post-earnings announcement, those looking to hedge their bets can turn to inverse ETFs like NVDD, which could yield returns if Nvidia's stock declines.

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