The post $1,000 invested in Nvidia stock at start of 2024 returned appeared on BitcoinEthereumNews.com.

It is said that hindsight is 20/20, and its benefits are as painful to few as they are to investors who failed to acquire at least some shares of the semiconductor giant Nvidia (NASDAQ: NVDA) at the start of 2023. In the 52-week period, the blue-chip microchip maker skyrocketed as much as 245%, meaning that any trader who put $1,000 on the line early in January could have cashed out approximately $3,500 on December 31. The firm was, due to its dominant position in the semiconductor market, one of the major early beneficiaries of the artificial intelligence (AI)  boom that started in earnest in late 2022 with the launch of OpenAI’s flagship platform – ChatGPT. While Nvidia’s future became uncertain for a brief moment in 2023 due to new export restrictions for high-tech goods bound for China, the company has since found a compromise solution and is, seemingly, set for a strong 2024. Is Nvidia a good investment in 2024? Since 2024 started, Nvidia has continued soaring, and its price chart – at one point appearing as if it is trying to reach for the skies – even caused a brief panic in early February as many investors felt it might have become a new tech bubble. Despite the scare, Nvidia is yet to crash and is, in fact, up an impressive 50.75% since January 1. The last trading day, however, wasn’t positive for the company, and its stock closed 0.06% in the red – at $726.13. On the other hand, the extended session trading appears to have erased the minor loss, as the firm is up 0.15% at the time of publication. NVDA YTD stock price chart. Source: Finbold Following this performance, a January 1 investment in Nvidia would have already generated more than satisfactory returns, and $1,000 put…

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Filed under: News - @ February 19, 2024 5:12 pm