S&P 500 index reports

Nvidia Stock Surges Past $1,100, Nears $3 Trillion Market Cap with 5.7% Gains

May 28, 2024, 02:01 PM

Nvidia's stock has experienced a significant surge, reaching new all-time highs and surpassing $1,100 per share in premarket trading, up 2.7% pre-market. The company's market capitalization has grown substantially, adding $130 billion overnight and reaching nearly $3 trillion. Nvidia's stock performance has outpaced other major tech companies, making it more valuable than the entire Australian, Korean, and German stock markets combined. The company's recent earnings report has bolstered investor confidence, leading to a 4.4% increase in its stock price, making it a leader among S&P 500 advancers. Nvidia shares extended gains to 5.7%, adding $150 billion in market cap. Nvidia is also preparing for a 10-for-1 stock split on June 7th, which has further fueled market optimism.