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Why Nvidia Stock Rallied on Tuesday

TheMotleyFool

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Why Nvidia Stock Rallied on TuesdayPhoto, wide shot, wide-angle lens, Software company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/70b5df15-67cc-4a1b-af41-3596614daf77.png

Shares of Nvidia (NASDAQ: NVDA) surged higher on Tuesday, jumping as much as 4.8%. As of 3:20 p.m. ET, the stock was still up 4%.

The catalyst that sent the chipmaker and artificial intelligence (AI) specialist higher were reports that the company's chief executive was done selling stock for now.

CEO Jensen Huang has sold a large block of Nvidia stock in recent months, a move that caught the attention of investors. In all, he sold roughly 6 million shares worth roughly $713 million as part of a prearranged stock trading plan put in place earlier this year.

Source Fool.com

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