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Martin Shkreli, the former hedge fund manager known as the "Pharma Bro," scolded online finance personalities Thursday after they hunted for alleged red flags in Nvidia Corp.'s (NASDAQ:NVDA) third-quarter financial statements, saying many don't grasp basic accounting.
Shkreli wrote on X, "I am begging some of you wannabe finance influencers to spend 6 months on Wall Street in any capacity whatsoever." Earlier, he added, "This is why the internet sucks. People who have no clue get the same megaphone," quoting a podcast host who noted Nvidia inventories rose 32% from the prior quarter and said it was "something for the NVDA bears to cling on to."
He then mocked other high-follower accounts for what he called cherry-picked bearish readings of the report. Replies turned tongue-in-cheek. The Polymarket Money account reminded Shkreli he was sentenced to seven years in prison for securities fraud in 2018, joking that Wall Street was out of reach and asking if jail would do.
Another commenter wrote, "Take the L. Burry right, you wrong," referring to investor Michael Burry's Thursday critique that Nvidia's $112.5 billion in buybacks since 2018 has added "zero" shareholder value once stock-based compensation dilution is considered. Shkreli brushed off the jab with a series of laugh emojis.
Shkreli delivered his critique as Malaysia and China tighten the screws on finfluencers to curb misleading or unlicensed advice. China now requires influencers who discuss professional subjects, such as finance, to display verified credentials, says a Forbes report. Meanwhile, according to a Malay Mail report from earlier this week, Malaysia is implementing tougher rules that can result in huge fines and even jail time for unlicensed financial promoters.
The flare-up comes as Nvidia's AI-chip dominance keeps investors laser-focused on its numbers. The company reported record Q3 revenue of $57.0 billion, up 62% year-over-year, and CEO Jensen Huang said, "AI is going everywhere, doing everything, all at once."
Shkreli has previously argued that Nvidia is "still undervalued" and, in August, defended the company's strategy. He also backed Nvidia's September pledge to invest up to $100 billion with partners to expand OpenAI's data-center buildout.
On Thursday, NVDA stock finished the regular session down 3.15% at $180.64 before climbing 0.25% in extended trading. Over the last year, the stock has gained 23.82%.
According to Benzinga Edge Stock Rankings, the stock has maintained a stronger price trend over short, medium and long terms, with a poor value ranking. Check here to see scores on Nvidia stock’s other key performance metrics.
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Posted In: NVDA
