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Why Nvidia Stock Surged Higher on Wednesday
Shares of Nvidia (NASDAQ: NVDA) charged sharply higher Wednesday, jumping as much as 5.5%. Nvidia stock was on the receiving end of some bullish comments by Spouting Rock Asset Management’s chief investment officer, Rhys Williams, according to Barron’s. After the share price fell as much as 34% from its November highs, Williams argues that the selling is overdone and Nvidia stock is a buy, particularly in light of the massive opportunity presented by the metaverse. While Nvidia continues to generate the lion’s share of its revenue from graphics processing units (GPUs) used for video games, the company’s data center segment has been growing at a faster clip.
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