After Nvidia's Stock Split and 150% First-Half Gain, Will It Soar in the Second Half? Here's What History Says.
Nvidia (NASDAQ: NVDA) has probably been the most watched stock on the planet over the past several months. This is because the company dominates the artificial intelligence (AI) chip market, and its soaring revenue has prompted the stock to skyrocket. In the first half, the shares soared more than 150% -- and that's after already gaining more than 1,300% in the previous five years.
In fact, this momentum pushed Nvidia stock past the threshold of $1,000, a level that may be a psychological barrier for some investors -- and in other cases makes it difficult for small investors to buy without relying on fractional shares. So Nvidia launched a stock split recently to bring down the price of each individual share. Investors welcomed the news, and the stock rallied nearly 30% from the split announcement through the actual operation.
Now, though, the big question is whether Nvidia's momentum will continue post-split and whether this top chip designer will soar in the second half. Let's look to history for some answers.
Source Fool.com