Why Nvidia Stock Rocketed Today

Shares of Nvidia (NASDAQ: NVDA) stock closed down 4.5% on Tuesday after Bloomberg reported that Nvidia's $40 billion bid to buy Britain's Arm Holdings is all but dead.

Nvidia may abandon the deal, said Bloomberg, and SoftBank -- Arm's seller -- is already contemplating putting Arm up for an initial public offering instead. But with Nvidia stock bouncing back today, and back up 4.7% as of 10:40 a.m. ET, it's looking like some investors may have decided this is actually good news for Nvidia.

Image source: Getty Images.

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Source Fool.com