Why Nvidia Stock Surged Higher on Wednesday

Shares of Nvidia (NASDAQ: NVDA) charged sharply higher Wednesday, jumping as much as 5.5%. As of 12:42 p.m. ET today, the stock was still up 5.3%.

The catalyst that sent the semiconductor giant higher was positive commentary by an investment banker.

Nvidia stock was on the receiving end of some bullish comments by Spouting Rock Asset Management's chief investment officer, Rhys Williams, according to Barron's. After the share price fell as much as 34% from its November highs, Williams argues that the selling is overdone and Nvidia stock is a buy, particularly in light of the massive opportunity presented by the metaverse.

Source Fool.com