NVIDIA Corporation (NVDA) Stock: Skyrocketing On Rumors

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NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA Corporation was off to a relatively rough start to the day today, trading in the red early on. However, things are changing, and they are changing quickly as the stock is finally making it to the green. Today, we’ll talk about what we’re seeing from the stock, why, and what we should be watching surrounding NVDA ahead.

What We’re Seeing From NVDA

As mentioned above, NVIDIA Corporation was off to a relatively rough day in the market today, trading in the red for nearly the first 2 hours. Nonetheless, something just happened minutes ago that caused the stock to skyrocket into the green. At the moment (11:19), NVDA is trading at $68.40 per share after a gain of $0.44 per share (0.65%) thus far today.

Why The Sudden Change In Direction?

As usual, as soon as we noticed that NVDA was spiking, the CNA Finance team went digging to find the cause. In this particular case, there was no fundamental news surrounding the stock that could have caused such gains. Nonetheless, the team did find something.

In digging through social feeds, we noticed that there was a big rumor circling the social space. That rumor is that NVIDIA Corporation is in the midst of being acquired. Nonetheless, it’s important to remember that the rumors are unconfirmed.

What We’ll Be Watching For Ahead

Moving forward, we’ll be watching closely for any more news surrounding the potential acquisition of NVDA. It’s important to keep in mind that unconfirmed rumors are generally fruitless in the end unless you’re buying in the beginning and selling at the peak. Nonetheless, NVDA is definitely going to be putting on a show ahead.

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