Despite Nvidia's history of significant gains, including a 231% increase in 2023 due to optimism for its AI technology-based semiconductors, achieving such a substantial rise in less than a week is considered highly ambitious, even for this high-performing stock.
Key takeaways:
- Nvidia Corp., the world’s third-largest company by market value, is becoming popular among YOLO traders.
- On Monday, traders bet that Nvidia's shares will more than double its $885 price by the weekend.
- Nvidia has previously experienced triple-digit gains, having soared 231% in 2023 due to optimism for its semiconductors used in artificial intelligence technology.
- However, achieving such a significant increase in less than a week is considered a challenging task, even for a high-performing stock like Nvidia.