The Curious Reason Nvidia Stock Popped Today
After going through a rough patch, shares of Nvidia (NASDAQ: NVDA) finally turned higher on Wednesday, gaining as much as 6%. When the market closed, shares were still up 5.9%.
There's little doubt that the overall bullish market trend helped fuel its rise, but a curious catalyst appears to have helped boost shares: The semiconductor giant assured employees that it wasn't making any sweeping cuts in the wake of its difficult quarter.
The economic uncertainty that has gripped corporations everywhere has resulted in a rash of slowed hiring, job cuts, and layoffs. Reports of slashed head counts have generally been followed by a declining stock price for the companies in question, as they're viewed as harbingers of pain to come. Not so for Nvidia.
Source Fool.com
