Tesla’s six-month run becomes Nvidia retail favorite 2023

According to statistics provided by J.P. Morgan, Nvidia Corporation (NVDA.O) had a good chance on Thursday of ending Tesla Inc.’s (TSLA.O) run of being the stock that has been the most actively traded by retail traders in every session since November 4.

After the U.S. chip designer predicted quarterly sales more than 50% over projections, shares of Nvidia rose 27%, bringing the company’s market worth closer to $1 trillion.

This is an indication that Wall Street has badly miscalculated the role that Nvidia will play in fueling the revolution in artificial intelligence (AI).

Nvidia will be the retail favorite following Tesla’s six-month run.

According to statistics provided by J.P.Morgan, retail investors were the most active buyers and sellers of Nvidia stock on Thursday, with 88,962 purchase orders outnumbering 86,413 sell orders as of 13:30 p.m. Eastern Time.

It was also the stock that was traded the most frequently on Fidelity’s platform and the stock that was trending the most highly on stocktwits.com, a social media site focusing on investors.

According to Vanda Research, following Tesla, Amazon.com Inc (AMZN.O), and Apple Inc (AAPL.O), Nvidia has garnered the biggest net purchases from individual investors since the beginning of this year among single equities.

Leave a Reply

Your email address will not be published. Required fields are marked *