Nvidia Stock Is Ripping Higher Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Nvidia's stock surged after reports that CEO Jensen Huang completed his stock sales under a Rule 10b5-1 trading plan earlier than expected. Huang sold 6 million shares, grossing $713 million, but still holds a significant stake. Nvidia's stock has risen over 140% this year, driven by its strong AI positioning and impressive revenue growth.
September 24, 2024 | 5:06 pm
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Nvidia's stock rose after CEO Jensen Huang completed his planned stock sales early, maintaining a large stake. The company's strong AI positioning and revenue growth have driven a 140% YTD stock increase.
The completion of CEO Jensen Huang's stock sales under a Rule 10b5-1 plan removes potential selling pressure, which is positive for the stock. Nvidia's strong AI positioning and revenue growth further support the stock's upward momentum.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100