Nvidia Superfans Threw a Party to Watch Quarterly Earnings – ryan

Jensen Huang is a rock Star to these People.
Photo: Ann Wang/Reuters

“Have some nvidia beads!” Lauren Balik Hands with The Green Mardi Gras -Plastic Necklace and – Sure, Why Not? Its just before 4 pm at the store house in chelsea. A Bunch of Black, Green, and White Balloons Slam with in the face. Bubbles float Through the air, and cnbc is broadcast on seven screens hanging the 30-ODD People who are here for one reason: to see what unfathomable amout of Money Nvidia, ” period.

Nvidia is at the Peak of its Hype Cycle. This year, the computer-chip maker Became something like a vector of all of the Capitalism’s hopes and dreams as it rockketed past $ 3 trillion in markets, more than tripling in value over the past 12 months. Thanks to a dashed-off tweet From Balik, Finance and Tech Superfans Descend the Bar for A Quarterly Earnings Watch Party.

I’ve been covering wall street in some form for 14 years, and this is the first time i’m aware of that a single company’s 10-Q Regulatory Has Made A Bunch of People Who DON’T WORKING THERE Throw a party. “All of this is Really Embarrassing!” Said Takara Satone, 27, Who Told me she works at a “Big Tech Company.” Part of it is the power of financial memes and the stunning rise in nvidia’s share price over the past, which has catapulted to the Second-Largest Company in the World by Market Cap, AFTER Apple. Most of the People here spoke with oawned some shares, and one haad almost his entire life savings. But nvidia has Become something Else-A Feel-Good Story at a time we are the economy has otherwise been so unsteady. “This is just the bubble in Physical Form,” Said Howe Wang, an investor who was blowing bubbles into the air.

“I’m a believer,” Said a man Visititing from texas who also works at “A Big Tech Company” and was wearing an nvidia t-shirt. He said he has invested in Nvidia SINCE 2017 and has seen his Shares Rise About 3,000 Percent. On Monday, he bought a studio apartment in hudson yards with the processes. Next year, he hopes to retire.

By 4:20, just before the earnings came out, the cowd swan to about 60. NPR A Reporter. SO DID The Wall Street Journal and Morning Brew. Most of the investors were in their 20s; A Few Were Older. CNBC TREATED The Earnings like it new year’s with a countdown clock. Everyone joined in, shouting, “3! 2! 1!”

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Nvidia made a Paltry $ 30 Billion from April to June-Actually Better than Some Estimates, But Well Below the Most Euphoric Expectations for Wall Street’s Die-Hard Investors. Balik Booed. The whole vibe deflated. A Stock Chart Traditioned Sideways and Then Way Down, Around 7 Percent. A man in a collarless Celadon button-down balped when i asced Him his thoughts about it, looking as if i’d killed his dog. Others were far less attailed. “I really know anything. I Barely Care,” Satone Said. “I JUST WANTED TO SEE WHAT WAS HAPPENING WITH THIS MEME EVENT.”

To be fair, the expectations were insane. Nvidia han ben a phenomenon argably SINCE JUNE, WENHEN JENSEN HUANG, The 61-YEAR OLD Leather-Jacket-Clad CEO, SIGNED A WOMAN’S BREASTThe Kind of Over-The-Top Celebrity Treatment that normally doesn’t get afforded to Silicon Valley Executives. (If there are fields of Mark Zuckerberg or Elon Musk Doing the Same, I’m Not aware of the time.) At the time, the company was well on Its Way Toward a $ 3.35 MARKET VALUE, NOT JUST ENRICHING ITS OUT SPOPPORTING THE STOCK MARKET AS A WHOE.

Balik had planned to play the earnings calls over the bar’s speaker system, but by 5 pm, almost every Had Left. “I was pulling for nvidia to go down a bit. “But i don’t want anybody to love their shirt!”