Why Nvidia Stock Popped, Then Dropped on Wednesday
Shares of Nvidia (NASDAQ: NVDA) had a bit of a tailwind to start Wednesday, jumping as much as 3.3%. As of 11:08 a.m. ET, however, the stock was down 0.8%, caught in the general market downdraft.
The catalyst that initially sent the semiconductor giant higher was bullish commentary by an analyst.
Bank of America analyst Vivek Arya painted a compelling picture for Nvidia's future prospects, reminding investors there's still robust demand for the company's graphics processing units (GPUs), as plenty of gamers have yet to adopt the latest version of its high-end processors.
Source Fool.com
