Nvidia Stock Rebounds Strongly to Break Three-Day Decline

Money | June 25, 2024, 10:14 a.m.

Nvidia stock (NVDA) saw a 3% increase on Tuesday morning, rebounding from a three-day decline that cost the company $430 billion in market cap. Despite a recent record-high close, Nvidia fell nearly 13% as investors shifted focus. Managing partner Kenny Polcari believes the drop is exaggerated and advises investors to view it as an opportunity. He suggests that reshuffling and rebalancing during the quarter's end may be contributing to the decline. Although Nvidia's market cap climbed to $3 trillion, it remains below Microsoft and Apple. The company's role in driving record highs for the S&P 500 and Nasdaq in 2024 is significant. Nvidia's recent 10-for-1 stock split further indicates its growth potential. Senior business reporter Ines Ferre covers these developments for Yahoo Finance, providing expert analysis on the latest financial news.