Nvidia Vs. Microsoft: ‘Insane’ Gains Aim Tech ‘Beast’ At No. 1 Market Cap Slot
This is insane,” says one market analyst on X (formerly Twitter). “It’s a beast,” says another on CNBC. It’s becoming difficult to find suitable superlatives to describe the market performance of Nvidia Corporation (NASDAQ: NVDA)
The Kobeissi Letter on X on Friday,
the performance of Nvidia on Thursday, saying: “This is just insane.”
“Nvidia fell to $914 at 4:15 PM ET today after the market closed. But then, by the end of the after hours session at 8:00 PM ET, the stock closed above $946. That’s a 3.5% swing in after hours trading, adding $80 billion in market cap. If you include the regular hours session, Nvidia casually added $180 billion of market cap today.”
In pre-market trade on Friday, the stock was up 2.9% taking the share price to $953.33.
Tom Sosnoff, founder of Tastytrade told CNBC’s last call on Thursday night: “The depth of liquidity today in Nvidia was off the charts. It was the number one stock traded on our platform today. It just crushed everything else. It’s a beast.”
Explosive Growth In Market Cap
Back to market cap. On Thursday, Benzinga wrote about the market performance of Nvidia vs. Apple Inc. (NASDAQ:AAPL) – stocks of similar market cap.
Nvidia’s market cap currently hovers at around $2.42 trillion, while Apple remains at $2.61 trillion.
Nvidia is catching up fast. The market cap has increased by around $1 trillion since the start of 2024. In just the past eight trading sessions of consecutive gains, the market cap has increased by $440 billion.
Only the top 18 stocks on the S&P 500 have total market caps above $440 billion.
