NVIDIA Corporation (NVDA) continues to surge in the stock market, as investors become more excited about its future prospects. The company provides computer graphics processors, chipsets, and multimedia software.
In the first quarter of 2023, the Ithaka US Growth Strategy generated 21.8% gross and 21.7% net returns, outperforming the Russell 1000 Growth Index, which only generated 14.4%. The strategy’s success can be attributed to stock selection, with a slight benefit from the sector allocation.
NVIDIA Corporation (NVDA) was one of the stocks Ithaka US Growth Strategy highlighted in its first quarter 2023 investor letter. In the past month, NVIDIA Corporation (NVDA) has gained 10.47%, closing at $430.25 per share on June 22, 2023. The shares surged by 151.23% over the last 52 weeks, making it a top-performing stock in the market. Additionally, the company has a market capitalization of $1.063 trillion.
NVIDIA Corporation (NVDA) is also popular among hedge funds, holding the 17th position on the list of the 30 most popular stocks among them. According to the database, 132 hedge funds held the stock at the end of the first quarter of 2023, up from 106 in the previous quarter.
As previously discussed in another article, NVIDIA Corporation (NVDA) is also one of the best stocks in the NFT market. Investors are keeping an eye on the company, as it continues to make strides in innovation, which could boost its performance in the market.
It is clear that NVIDIA Corporation (NVDA) is a stock worth watching, as it continues to generate impressive performance in the market. Investors and hedge funds remain bullish about the company’s future prospects, making it a top pick for those looking to invest in a high-performing stock.
