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Why Nvidia Stock Popped Today

·2 min read
Why Nvidia Stock Popped Today
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Volatile Nvidia (NASDAQ: NVDA) stock, which has suffered through more down days than up days so far this year, is having a rare green day on Friday, as shares of the semiconductor giant inch up 2.1% as of 12:10 p.m. ET. First and foremost, at a recent P/E ratio of 70, Nvidia stock -- while far from cheap -- nonetheless costs a whole lot less than it did as recently as just late last year, when shares of the graphics chips specialist were regularly changing hands for 90 times earnings and up. At the same time, investors in Nvidia still have a few weeks to wait before Nvidia delivers its next batch of earnings news on Feb. 16.