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Why NVIDIA Stock Was on Fire on Thursday
Joining a broad-based stock rally that saw the tech-heavy Nasdaq gain 2.6% by the closing bell, NVIDIA (NASDAQ: NVDA) stock rose by 5.8% in trading Thursday. Early Thursday morning, Citi said it was putting NVIDIA shares on a “positive catalyst watch,” noting that the 2021 Consumer Electronics Show will get underway on Monday, and that demonstrations of NVIDIA products at the annual trade show could give investors new reasons to buy the stock. “Hyperscale-led data center” buying of semiconductors, related TheFly.com in its write-up of Citi’s note, could also boost demand for NVIDIA products in the first half of 2021.
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