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Jun 3, 01:48 PM
Nvidia Shares Rise Above $141 on AI Dominance; Curve Surges 12% Amid Options Activity and Broadcom Earnings Outlook
Stocks
Business
AI

Nvidia Shares Rise Above $141 on AI Dominance; Curve Surges 12% Amid Options Activity and Broadcom Earnings Outlook

Authors
  • Market Rebellion
  • Special Situations 🌐 Research Newsletter (Jay)
  • Mukund Mohan
4

Nvidia Corp. (NVDA) shares have shown strong performance, reaching highs above $141 amid increased market activity. The stock rose approximately 1.5% early in the trading session, recovering to around $140. Market analysts note that the expiration of significant call gamma positions following Nvidia's recent earnings report may have removed previous resistance at the $140 level, potentially allowing for further gains. Jefferies has added Nvidia to its franchise picks list, highlighting the company as the dominant supplier of AI accelerators in the rapidly expanding data center industry driven by AI development and adoption. Additionally, shares of Curve (CRWV) surged by 12%, with notable options activity including large sales of June $130 puts. Nvidia's performance is also seen in the context of expectations for a strong earnings report from Broadcom (AVGO), which could further support Nvidia's upward momentum.

Written with ChatGPT (GPT-4).

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