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Nvidia ($NVDA) CEO Jensen Huang Sells $713M in Stock, Sparks 3% Rally

Sep 24, 2024, 03:47 PM

Nvidia CEO Jensen Huang has sold $713 million worth of Nvidia ($NVDA) stock and announced that he is done selling for now. Following this announcement, Nvidia's stock experienced a significant rally, with the market adding $122 billion to Nvidia's market cap within an hour. The stock surged by 3% over the past 50 minutes, reaching new month-to-date highs. The news, reported by Barron's, also triggered a notable increase in call option buying for Nvidia, indicating strong investor demand.