Nvidia Says It's Adding This Tech Company to Its Investment Portfolio. The Stocks Are Surging.
Key Takeaways
- Nokia’s stock soared Tuesday after Nvidia said it plans to take a $1 billion stake in the Finnish tech company. Nvidia shares also climbed.
- The deal marks Nvidia’s latest bet on AI infrastructure plays.
A vote of confidence from AI chipmaker Nvidia sent shares of another tech company soaring Tuesday.
Read MoreThe Burst
2 Stocks With Nearly 200% Upside
It’s a tough time for tech stocks. After hitting impressive highs in November 2021, the Nasdaq Composite is down more than 25 percent year-to-date as of mid-May 2022. Day after day, the index seemed to hit new 52-week lows. That’s bad news for growth investors because Nasdaq is home to tech companies that have historically been winners.
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Read MoreThe Ivy
Market Commentary: How To Spot The Next Big Move
Want to know when the next big move is coming in a stock? It’s not as hard as it might seem to figure it out.
To begin, look to the past. If a big move has already occurred, you could be looking at a good candidate. Next, you want to see that a stock has paused or consolidated for a while so that the moving averages “catch up”
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