Given that the claim of an 18,000% gain in NVDA seems to be a re-quote of a prior claim, it’s hard to tell who was telling that lie. Such a claim is BS as some basic, 4th math will prove. So, for the sake of the math-challenged, let’s run the proof.
If someone claims he/she had a 300% gain on a stock, and the stock is now trading at $40, you know their entry price was $10. If someone claims their gain on NVDA was 18,000% and NVDA is currently trade at roughly $142, you know they are lying, because they couldn’t have bought NVDA at $0.0078 cents.
Do the math, people. In Feb '99, NVDA was trading at $0.04, a true penny stock. Jun '00, it did a 2:1 split and was trading at $0.27. Let’s get our buyer into NVA at its $0.04 low and ask how they did. With a current price of $141.98, the gain would be a whopping 3,549.5x, but not 18,000x.
What likely happening is our would-be claimant isn’t lying, but he/she just can’t do basic, 4th-grade math and doesn’t understand percentages and the need to shift decimals when calculating investment gains. An 1,800% gain with NVDA? Possible, but not likely . An 18,000% gain. Not possible.
Math is hard isn’t it? They had 6 splits and not all of them were 2 for 1 splits. I will let you figure it out because knowing Pete, I doubt he has it wrong.
Nvidia has split its stock six times since its initial public offering (IPO) in January 1999:
One might wish to be more careful with slandering people. Don’t forget, Fidelity will do the math for you as you will see. My point was that I bought this as an IBD breakout and cutting at 8% would have been a very bad idea. It just takes one of these to make a huge impact on your life and retirement.
The breakout was March 2016, I paid a little over $34 as I recall. Since then, we had a 4:1 and a 10:1, which is 400:1. You do the math and you will see my basis is 80 cents.
The court will please review the chart of NVDA from 2016. IBD MarketSurge allows one to set the date back so that one may study old charts. I have set the date to 4/1/2016, just after I bought it.
The court will now please review the snippet from my Fidelity account, showing my total return on NVDA. NVDA is a little off its highs, so only 17,518% return, but I also track my great stocks in a spreadsheet and the “Bagger high” was 184x (176x today).
The court finds the defendant not guilty of bad math nor of lying.
If someone claims their gain on NVDA was 18,000% and NVDA is currently trade at roughly $142, you know they are lying, because they couldn’t have bought NVDA at $0.0078 cents.
The court finds the accuser guilty of bad math as he arrived at 0.0078 cents instead of 78 cents or even 0.78 dollars. The court wonders if the accuser publicly challenged his friend who stated he turned $5000 in to $12 million using Simon Sez trading systems. The court wonders if the accuser feels a little shame and wishes to publicly apologize to salvage his reputation.
Stock splits neither increase the value of an investment, nor decrease it. If a pizza is cut into four slices or six slices, there’s still just one pizza on the table.
If an account owns shares of a stock that splits, the total value of those shares hasn’t changed, only the price of each share.
So, go back in time and buy a buy a single share of NVDA at its IPO. What is the present maketable worth of that original investment? At best, as of an hour ago, our would-be IPO buyer has achieved an investment gain of 3,451x, not the 18,000x someone is claiming.
Dude, you would make a bad lawyer, total disregarding all evidence. I never said 18,000x I always said 18,000%.
Here is your quote
Given that the claim of an 18,000% gain in NVDA seems to be a re-quote of a prior claim,
I even gave you a snapshot of my Fidelity account and you insisted on ignoring that and continuing your case as if you were trying Trump in a Manhattan courtroom full of Biden voters who do not care about facts. I do appreciate the good laugh though, thanks.
