Nvidia’s Retail Inflows Soar, Dethroning Tesla as Most-Bought Stock
Michael MacGillivray, a 25-year-old investor, has been investing in artificial intelligence and has made a significant investment in Nvidia, citing the company’s impressive growth and potential. As a result of this trend, Nvidia has seen nearly $30 billion poured into it by retail investors this year, making it the most-bought equity on record.
Nvidia’s impressive performance has led to it being on track to dethrone Tesla as the most-bought stock in 2024. The chipmaker has seen almost double the amount of net inflows from retail investors compared to the SPDR S&P 500 ETF Trust, which tracks the US stock market.
“We’re seeing a surge in demand for Nvidia, and we’re not seeing that same level of demand for other tech stocks,” said Marco Iachini, senior vice president at Vanda. “The performance speaks for itself.”
The company’s impressive growth has also led to it being added to the Dow Jones Industrial Average, making it one of the 30 companies that make up the iconic index. Nvidia is also on track to finish 2024 higher by more than 180%, making it the best performing stock in the S&P 500.
The company’s success has led to it becoming the second-largest holding in the average retail investor’s portfolio, behind only Tesla. Retail investors are unlikely to sell their Nvidia shares, with a significant percentage of them holding onto the stock for the long term.
The surge in Nvidia’s popularity has also led to it being the 10th most-held stock among retail investors, according to Vanda’s data. This trend is expected to continue, with the company’s focus on innovation and its strong leadership in the AI space driving its impressive growth.
While some investors are concerned about the company’s high valuation, others are optimistic about its future prospects. “I think it’s only going to keep rising exponentially,” said Prajeet Tripathy, a recent college graduate who has invested in the company.
Despite the company’s success, not everyone is convinced, with some analysts noting that its high valuation is a concern. However, the trend is clear: Nvidia is a hot stock, and retail investors are flocking to it in droves.
The company’s success has also led to it being the focus of several watch parties, with investors gathering to watch its earnings reports and react to its stock price movements. The company has also seen a surge in retail ownership, with investors holding onto the stock for the long term.
In conclusion, Nvidia’s impressive growth and innovative leadership in the AI space have made it a favorite among retail investors, with the company on track to dethrone Tesla as the most-bought stock in 2024.
