NVIDIA Corp (NASDAQ:NVDA) shares sold off following soft guidance Wednesday evening, but if you waited for the market to open Thursday, you might have missed an extraordinary buying opportunity.
What To Know: Market Rebellion co-founder Jon Najarian bought Nvidia shares ahead of earnings. Despite the stock's initial move lower, it has recovered all of its losses and turned positive in Thursday's session.
"If anybody bought it in the after hours, my hat's off to you. That was the buy of the year," Najarian said Thursday on CNBC's "Fast Money Halftime Report."
Najarian told CNBC he bought the stock ahead of the report around $167 per share just after his brother Pete Najarian picked up shares.
He also shorted call options against his stock position, which provided some downside protection, however, he didn't need it.
See Also: Highest-Quality Growth Stock:' Nvidia Analyst Shrugs Off Gloomy Guidance
"These numbers ... were an absolute blowout and I think they are going to continue to be," Najarian said.
He highlighted the strong year-over-year growth in gaming and data center revenue. He thinks he got a "gift" at $167 per share, as he doesn't see anything that is going to slow the company's explosive growth.
NVDA Price Action: Nvidia has traded between $154.60 and $346.47 over a 52-week period.
The stock was up 5.18% at $178.54 at press time, according to data from Benzinga Pro.
Photo: courtesy of Nvidia.
