The US equity market has over a dozen stocks that delivered profits of more than 100% in just four months. Investors who took an entry position in a few stocks in January this year almost doubled their profits in April 2024. This comes at a time when the Dow Jones Industrial Average hit an all-time high of 39,889 in March last month. Additionally, NASDAQ reached an ATH of 16,538 during the same period making stocks boom. One of the stocks that delivered high profits in 2024 is Nvidia.
Also Read: Where’s De-Dollarization? US Dollar Hammers Other Currencies in 2024
The Nvidia stock was trading around the $481 mark early this year on January 2, 2024. It turned out to be the most sought-after stock in the US equity market as Nvidia prices skyrocketed in January. It attracted heavy bullish sentiments from investors from the start of the year till March-end.
Also Read: Wages in the US Rise 7%, Home Prices Skyrocket 45%
Both institutional and retail investors flocked towards Nvidia stock to gain the most out of its price run. An investment of $10,000 at the start of the year could have made you accumulate around 20 stocks. Holding on to the 20 stocks from January to April 2024 could have turned your investment of $10,000 into $17,500 today.
Also Read: $100 Oil per Barrel Possible as Middle East Tensions Rise: Citi Group
Nvidia stock rose from $481 on January 2 to $840 today in April 2024. That’s an uptick and return on investment (ROI) of approximately 75% from January to today. Those who picked up Nvidia stock at the beginning of the year made stellar profits in a short period.
However, the ongoing conflicts in the Middle East between Iran and Israel concerning the global equity markets. Nvidia stock dipped by nearly 5% in a month due to the growing yet ongoing Israel and Palestine tensions. Another leg up from here for Nvidia stock will be challenging as the equity markets remain on a slippery slope.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
source
This content is sourced from Watcher Guru. The copyrights for this article is owned by Watcher.Guru
