Constellation Brands stock is the IBD Stock Of The Day as it tests support below a buy point amid rising demand for premium beers and wines — and CBD drinks. Constellation Brands owns the Corona, Modelo and Pacifico beer brands. Constellation's claims its portfolio of higher-margin, higher-end alcohol brands positions it as the No. 1 high-end beer supplier in the U.S. and the No. 2 wine supplier. Read More...
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Why Nvidia Stock Is Still Going Down
Yesterday, shares of semiconductor specialist Nvidia (NASDAQ: NVDA) got hit on a widespread sell-off of cryptocurrency tokens — and fears the sell-off would impact demand for Nvidia’s graphic processing chips. The sell-off isn’t quite as bad as yesterday, but it’s still apparently bad enough to be costing Nvidia shares a 3.8% loss in 1:25 p.m. ET trading. Stock investors worry that if the losses don’t stop soon, it might drive crypto investors away from the market… which will depress demand for cryptocurrencies… which will depress mining of cryptocurrencies… which will in turn, finally depress demand for Nvidia’s graphic processing units, which in recent years have been widely repurposed for use in crypto mining.
