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ALERT: The One Crypto Stock to Buy in August

Posted August 04, 2021

Jonathan Rodriguez

By Jonathan Rodriguez

ALERT: The One Crypto Stock to Buy in August

Hi there,

Alright, alright!

I'm J-Rod and welcome to Stocks That Rock.

Each week, I turn up the volume on a breakout stock that will rock your retirement account.

I've got good news and bad news.

The bad news...

August is the toughest month of the summer for stocks, by far.

Over the last 25 years, the S&P 500 has averaged a decline of 0.38% in August — compared to gains in June and July.

But here's the good news...

Today I'm going to reveal a crypto-related stock that could hand you a double-digit gain this month.

Video Notes:

Before we get into today's stock that rocks...

Let's talk about why the world is crazy for cryptocurrency right now...

Ever since it burst onto the big stage five years ago, crypto has minted millionaires many times over.

Bitcoin, the biggest and most popular cryptocurrency, is up more than 6,000% in that timeframe.

Ethereum, the number 2 crypto by market cap, has gained more than 19,000% since 2017.

And propped up by billionaire fanboy Elon Musk, tiny crypto DogeCoin has gained 3,400% in 2021 alone.

But here's the thing...

Crypto is one of the most volatile financial assets on the planet.

It's not necessarily easy for people to trade...

And outside of financial speculation, it really isn't all that useful.

So today's stock that rocks is not only a key outperformer in August...

It's also your backdoor way to play the crypto craze.

Today we’re looking at NVIDIA Corp. (NVDA) — a key player in the digital currency space.

Now before I dig into why this stock is such a big deal...

Let me explain how you actually acquire crypto.

You can buy it on the open market online... just like you can gold, silver or any other commodity.

Or you can "mine" it using a computer that runs complicated math problems to unlock the coins.

There are thousands of miners around the world running mining computers 24/7 right now.

With crypto prices soaring, brand new miners are coming online every day.

And they are spending billions purchasing high-end computer chips.

Simple enough, right?

Here's where NVIDIA comes into the picture…

They make high-end graphics cards for gaming computers...

Which crypto miners love because they perform well under the stress of 24/7 operations.

NVIDIA's cards are so hot that retailers can't keep the gear on the shelves.

And that's been the case even before the COVID-related supply chain shortages...

In fact, just a few years ago... miners were renting 747 jets to buy and ship these chips in bulk to keep their operations running.

So to make their mining customers as well as their gaming customers happy...

NVIDIA just released the CMP HX GPU chips...

Which were designed specifically for miners to alleviate the graphics card shortage.

Add all this up and NVDA is powered up and ready to rally in August.

Over the last 10 years, NVIDIA averages an 8% gain in the month...

Compared to basically flat S&P over the same period.

Last year alone, shares gained 26%.

And the stock has put up double-digit gains for the month in four of the last seven years.

Why?

The company reports its Q2 earnings near the end of the month.

And they have outperformed even the loftiest estimates for sales and profit... time and time again.

I expect NVIDIA to beat the Street once again... and for shares to make a run at $250.

In terms of downside protection, which you know I like during volatile market periods...

You've got the 50-day moving average at around $185.

And you've got potential support at $180 and $160.

So you've got a shot at a big upside and protection at key levels backing you up.

Bottom line, NVDA is one of the market's strongest stocks in August...

And one of the best ways for you to get into crypto without all the crap.

That's all for today...

But as always, if you dig the content...

Please hit the like button and subscribe to the Rich Retirement letter channel on YouTube.

Thanks so much...

And for Rich Retirement TV, I'm J-Rod and I'll see you next time.

On the hunt,

Jonathan Rodriguez

Jonathan Rodriguez
Senior Analyst, Rich Retirement Letter

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