The Curious Reason Why Nvidia Stock Gained Ground Thursday Morning
Shares of Nvidia (NASDAQ: NVDA) climbed higher Thursday morning, jumping by as much as 3.4%. As of 1:25 p.m. ET, the stock was still up 0.8% -- even as the three major U.S. indexes lost ground.
The catalyst that sent the semiconductor specialist higher was news that the U.S. will further limit the export of certain types of high-end chips to China.
The Biden administration is expected to announce new restrictions preventing the most cutting-edge semiconductors -- and the technology needed to fabricate such chips -- from being sold to China, according to a Wall Street Journal article citing "people familiar with the situation."
Source Fool.com
