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NVIDIA Corp (NASDAQ:NVDA) reached a new milestone on Monday as its stock rose 4.14% to close at an all-time high of $143.71, prompting a notable reaction from CNBC’s Jim Cramer.
What Happened: Following the stock’s record performance, Mr. Cramer told X (ex-Twitter), “Nvidia, don’t trade, own.” “I questioned the decision of the people who sold it in the low $200 range.” ”
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Dan Ives, an analyst at Wedbush Securities, seconded Kramer’s opinion, responding with an emoji of a trophy symbolizing accomplishment and success.
Cramer has consistently used similar bull market terminology when discussing both Nvidia and Apple.
On Monday, the semiconductor maker’s shares traded between $138 and $143.71 during trading hours, setting an intraday and 52-week high and a significant increase from the 52-week low of $39.23. This surge reflects growing demand for Nvidia graphics processing units, especially from hyperscalers expanding data centers with advanced AI capabilities.
The company recently expanded its AI portfolio by quietly introducing a new model, Llama-3.1-Nemotron-70B-Instruct, which reportedly outperformed competitors in benchmark tests.
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Why it matters: This development is an important one, underscoring Nvidia’s continued dominance in the AI space, a position reaffirmed by analysts as a “generational opportunity.”
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This move is consistent with Ives’ observation that the roster of companies leveraging the technology revolution to move beyond traditional AI leaders is expanding.
Despite the stock’s impressive performance, experts believe there is still room for growth. Tech bulls predict that the stock could double in the next few years as strong demand for GPU chips and early adopters begin to realize the ROI.
Price Action: Nvidia stock rose 4.1% on Monday, closing at $143.71. Shares are down 0.70% year-to-date in pre-market trading on Tuesday, according to data from Benzinga Pro, but the stock is up 198.34%.
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Arrived Homes, the Jeff Bezos-backed investment platform, has launched a private credit fund that provides access to a pool of short-term loans backed by residential real estate and provides investors with a net annual loan payable monthly. The target yield is between 7% and 9%. In August, it was 8.1%. The best part? Unlike other private credit funds, this fund has a minimum investment of just $100.
This article “Nvidia, Own It, Don’t Trade It:” Jim Cramer questions short sellers as stocks reach new highs — tech bull Dan Ives celebrates with trophy This article was originally published on Benzinga. It was posted on com.
