Why Nvidia Stock Defied the Falling Market Tuesday Morning
Shares of Nvidia (NASDAQ: NVDA) surged higher Tuesday morning, jumping as much as 4.2%. As of 2:07 p.m. ET, the stock was still up 1% -- even as the three major indexes lost ground.
The catalyst that sent the semiconductor specialist higher was news that a well-known growth investor Cathie Wood is increasing her stake -- again.
Nvidia stock has been in the dumps recently, pressured by a combination of slowing sales of graphics processing units (GPUs) used by gamers and new restrictions imposed by the U.S. government on data center and cloud computing chips sold to customers in China.
Source Fool.com
