Evercore ISI's Julian Emanuel thinks Nvidia's monster rally is fueling a fear of missing out in the market.
"That's the first time that's happened since 2021 for us," the firm's senior managing director said on CNBC's "Fast Money" on Monday.
In his Sunday note, Emanuel warned clients there are similarities to Y2K emerging, particularly when it comes to momentum.
Meanwhile, Nvidia , the global leader in artificial intelligence chips, is up 46% so far this year and 240% over the past year.
"If you can't see yourself being a buyer down there, you should probably lighten up a little bit," said Emanuel.
Persons:
Evercore, Julian Emanuel, Nvidia's, Emanuel, CNBC's Melissa Lee, hasn't, It's
Organizations:
Dow, Nvidia
Locations:
U.S, Monday's