Abstract:
After the news of Jen-Hsun Huang’s resignation came out, retail investors rushed into the market to buy NVIDIA (NVDA) shares. According to data from Vanda Research, the stock saw the highest opening buying volume from individual investors since the agency began keeping statistics.
In the first 30 minutes after the opening of the regular trading period of U.S. stocks, retail investors net purchased Nvidia shares amounting to US$111 million, which was more than 40 times the net buying scale during the ordinary opening period.
Thursday’s bargain-hunting behavior comes after the chip company’s shares have received strong buying from retail investors for several consecutive days. On Monday, Tuesday, and Wednesday of this week, Nvidia was the security with the most net purchases in Vanda’s statistical sample, and the net purchase scale was several times that of the second-ranked target. Nvidia accounted for 61% of all retail net buying this week.
The demand for funds has also spread to leveraged products. Vanda said retail investors poured a combined $42.5 million into six Nvidia 2X Long ETFs from Monday to Wednesday, making it one of the top three three-day inflows on record.
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