Nvidia (NASDAQ:NVDA) stock is on the move Tuesday after the technology company’s shares were added to Bank of America’s list of best investment ideas.
NVDA stock joining this list is a positive sign for the company, as its Bank of America’s way of saying the shares are a good long-term investment. The list contains no more than 40 stocks and to be eligible the shares must have a daily average trading volume of at least $5 million for six months prior to joining.
It’s also worth noting that Bank of America’s list has outperformed the S&P 500 over the last year. Other limitations to the list is that the firm must have a buy rating for the shares and the stocks must be listed in the U.S. NVDA stock fills both of these requirements.
Nvidia joins the list alongside DraftKings (NASDAQ:DKNG) and Kirby (NYSE:KEX). Leaving the list at that same time are FedEx (NYSE:FDX) and Marvell Technology (NASDAQ:MRVL).
How This Affects NVDA Stock Today
NVDA shares aren’t reacting too strongly to today’s news. This only has about 17 million shares traded as of this writing. That’s still well below its daily average trading volume of about 49.5 million shares.
NVDA stock is down slightly as of Tuesday morning. However, the stock is up 137.7% since the start of the year.
Investors will want to stick around for even more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s going on with shares of Paramount (NASDAQ:PARA), Intel (NASDAQ:INTC) and GameStop (NYSE:GME) stock today. All of that info is good to go at the links below!
More Stock Market News for Tuesday
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- INTC Stock: Intel Wants a Piece of the Nvidia Pie With New AI Chips
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On the date of publication, William White 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.
