Nvidia’s strong sales forecast attracts attention from retail investors
2023.05.25 14:16
© Reuters. A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic
(Reuters) – Nvidia (NASDAQ:) Corp was the most traded stock by retail investors, J.P.Morgan data showed on Thursday, as the chip designer inched closer to a $1 trillion market capitalization following a stellar forecast.
The company’s outlook indicated that Wall Street has yet to price in the game-changing potential of artificial intelligence spending.
Nearly 42,626 sell orders outnumbered 41,258 buy orders by 10:30 a.m. ET, according to J.P.Morgan data.
Nvidia was also the most actively traded share on Fidelity’s platform and the top trending stock on investor focused social media site stocktwits.com.
Among single stocks, Nvidia has attracted the highest net purchases from retail investors this year after Tesla (NASDAQ:) Inc, Amazon.com Inc (NASDAQ:) and Apple Inc (NASDAQ:), according to Vanda (NASDAQ:) Research.
