Nvidia board member dumping $76 million in stock

Nvidia board member dumping $76 million in stock
Nvidia stock has risen nearly 200% this year.
All I see is enthusiasm for Nvidia stock despite its epic stock price run up. It is true that bears have gotten killed on this stock, but at some point, there has to be a pull back.
Harvey Jones has been on the board of Nvidia since 1993. He has sold $76 million in Nvidia stock this month. Mr. Jones is also the managing partner of a private investment company, so I would reckon he knows something about the stock market and bubbles. However, this represents only a 15% stack, so he is still holding onto 85%.
I would venture to guess that even if he wanted to sell every share of Nvidia he controlled, he couldn’t do so or he would spark backlash within the company, or cause a panic in the market.
So let’s think about this, an insider who has held shares since the early 90s is selling Nvidia stock at an all time high? This should make you question why you are purchasing Nvidia at all time highs.
I’m going to argue that Nvidia is one of the most overvalued stocks out there at this point.
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