Nvidia's stock price rose to the level of Tencent in four days: investors rushed to buy stocks at a low price before the financial report was released?

Nvidia’s stock price has risen back to the level of Tencent in four days: Are investors rushing to buy stocks at a low price before the financial report is released?

2024-08-14

Cailianshe News, August 14 (Editor: Xiaoxiang)It’s been a rough six weeks for Nvidia shareholders, starting with a historic selloff that knocked the company’s market value from a record high, followed by a roller-coaster ride of turbulence.

Now, however, there are signs that the worst may be over…

The global chip giant’s shares have surged 17% over the past four trading days, spiking its market value by nearly $424 billion — almost as much as Tencent.

Nvidia's rebound also strongly pushed the U.S. stock market higher. Data showsNvidia contributed about 22% to the S&P 500's gain during the same period, more than twice the contribution of any other single stock.

Ivana Delevska, founder and chief investment officer of Spear Invest, said that in this earnings season, there were actually a lot of good news for Nvidia among super-large companies, but the impact of the closing of arbitrage transactions some time ago was so great that it did not have much impact on Nvidia's stock price.

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Nvidia’s stock price has risen back to the level of Tencent in four days: Are investors rushing to buy stocks at a low price before the financial report is released?

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