Nvidia (NASDAQ:NVDA) is probably the most important stock in the market right now. While the company currently sits in third place in terms of global market capitalization, shares of NVDA stock have been driving a significant portion of the returns of the overall market for some time now. That’s unlikely to change anytime soon.
The artificial intelligence (AI) catalysts driving Nvidia to new all-time highs seemingly on a daily basis are in full flight. In fact, NVDA stock made another all-time high today, surging more than 3% this afternoon ahead of a key upcoming event.
On June 26, the company will host its annual meeting. The company just released its annual review and proxy statement, which many are parsing through right now.
Let’s dive into what’s up for discussion and a vote at this meeting — and why investors appear to be growing even more bullish on this semiconductor giant.
NVDA Stock Surges Ahead of Annual Meeting
Nvidia shareholders will certainly be watching the company’s presentation and commentary, looking for any new announcements around future products being launched as well as current uptake and demand predictions moving forward. Given the possibility of many new pieces of information being shared — and the bullish tilt of the market right now — it should be no surprise the largest chip stock in the world is moving higher ahead of this event.
Nvidia will host its annual shareholder meeting at 9:00 a.m. Pacific Time virtually via its website. Investors will be asked to vote on the following items:
- The election of 12 directors nominated by the company’s board.
- Advisory approval of Nvidia’s executive compensation packages.
- A ratification of PricewaterhouseCoopers as the company’s independent registered public accounting firm.
- Other business items, including stockholder proposals, as they arise.
As mentioned, these business items will likely take a back seat to the company’s presentations and announcements. I will be watching this event and aim to provide updates as they come moving forward.
For now, investors are strapping in for what could be even more upside in this high-flying semiconductor name.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
