It’s been a tough six weeks for Nvidia shareholders, with four days of stomach-churning volatility after a historic sell-off that saw the company’s market capitalization plummet to a record low. But now there are signs the worst may be over.
Shares of the chipmaker have risen 17% over the past four trading days, adding nearly $424 billion to the market capitalization of the world’s largest companies. The rebound has also helped bolster the broader market, with Nvidia contributing roughly 22% of the S&P 500’s gains over that period, twice as much as any other stock. The index has since hit its highest level since early July, providing welcome relief for investors who suffered their biggest one-day drop in nearly two years on Aug. 5.
