Nvidia’s stock has been on the rise on Tuesday, recovering after a three-day slide that saw its market valuation decrease significantly. The chipmaker’s shares increased by 3.0% in premarket trading to $121.68, following a 6.7% drop the previous day. The stock has fallen nearly 13% from its recent peak, facing pressure after briefly becoming the world’s most valuable publicly traded company.
Despite Nvidia’s stock split and positive Wall Street upgrades, fears surrounding its valuation and CEO Jensen Huang’s selling of shares have impacted its performance. This has also affected companies like Super Micro Computer and Vertiv Holdings, which have experienced fluctuations in their stock prices but seem to be stabilizing.
In the same industry, Advanced Micro Devices and Intel were also on the rise in pre-market trading. Nvidia’s stock has seen a significant 139% increase so far this year, outperforming the S&P 500 Index and Nasdaq Composite, which have seen increases of 14% and 17% respectively during the same period.
Overall, Nvidia’s recent performance highlights the volatility in the chip sector and the impact of external factors on stock prices. Investors will be closely watching to see how the company navigates these challenges moving forward.
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