Nvidia Market Cap Nears $2 Trillion: Why ‘Tech Giant’ Has Become An Understatement
Nvidia Day has come and gone in a massive flourish of apprehension, excitement, relief and, ultimately fresh buying of the stock that takes the chipmaker’s market cap from $1.67 trillion to $1.91 trillion overnight.
The superlatives to describe this stock’s performance in the past couple of years are becoming jaded. So let’s do a quick recap of what’s been happening to Nvidia Corporation (NASDAQ:NVDA) in just the past two days.
This week the stock fell 7% as investors’ apprehension ahead of Wednesday’s post-market results prompted some profit taking. Could Nvidia continue to surpass market expectations with its quarterly earnings, or would this be the one that failed them?
This was a sell-the-rumor, buy-the-fact moment as the scores came in above market forecasts. Having ended Wednesday’s session 2.9% lower at $674.72, after-hours trading on Wednesday, and pre-market trading on Thursday saw a 14% rally that took the shares above $700.
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Full story available on Benzinga.com