Nvidia's CEO Called the Dip Months Ago. Here Is How the Trade Played Out.
Yahoo Finance ·
On June 8, Nvidia ( NVDA -2.48% ) CEO Jensen Huang called the sharp technology sector sell-off that occurred in early June a buying opportunity. Speaking to reporters in Seoul that day, Huang said the artificial intelligence (AI) infrastructure build-out was still in its early stages. So, investors should be "very happy because now you can buy at a discount." His call seems to have been spot on so far. From its opening price on June 8 to the close of trading on Sept. 4, Nvidia's stock gained about 9.6%, compared with a roughly 3.7% gain for the S&P 500 ( ^GSPC -0.61% ) over the same period. However, investors should note that Nvidia's shares did not immediately move higher after Huang's comments. On June 29, Nvidia fell to an intraday low of $189.80, almost 10% below its June 8 opening price. A $10,000 investment made at the June 8 open would have at that point been worth about $9,030.
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