Hey traders, it’s Bryce here.
We have to talk about the NVIDIA Corporation (NASDAQ: NVDA) news from this week.
This is the most popular stock in the market. And it’s at the center of the AI revolution in 2024.
The company announced financial results for the first quarter of 2024 during after hours on Wednesday, May 22.
- Revenue of $26 billion. An 18% increase from the previous quarter.
- Quarterly cash dividend increased 150% to $0.01 per share.
The stock surged during after hours and pushed to new all-time highs. It was still trading near the highs on Friday. Take a look at the chart below:
 NVDA chart multi-day, 1-minute candles Source: StocksToTrade
And there’s another catalyst the company mentioned that could inspire a HUGE sector resurgence in small-cap stocks.
We’ve already seen +100% and +1000% spikers this year. It seems like every month there’s a new catalyst to push stocks higher.
And NVDA just gave us the next reason to prepare for more small-account profits.
Small-Account Opportunities
In addition to the stellar revenue numbers and the increased dividend, NVDA announced a 10-for-1 stock split.
Stock splits effectively dilute the total share count. Existing shareholders will get 10 shares for every 1 that they hold.
And after the split on June 7, the share price of NVDA will fall by a divisible factor of 10. So if the price was trading at $1,000 per share, after the split it will trade at $100 per share.
This is a HUGE opportunity for lower-income investors and traders to buy shares of NVDA at a much lower price. As a result, there’s sentiment on Wall Street that the share split will invite a growth in demand for NVDA shares.
Now … Nothing is guaranteed in the stock market.
But as I see it, there’s a 99% chance the NVDA split will cause some sort of volatility in the market. And as traders, we need volatility to profit.
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Maybe you don’t have enough cash to play the volatility on NVDA directly.
But whenever we see a lot of momentum in the market, the sentiment can trickle down the sector into our low priced plays.
So … As we approach the NVDA stock split on June 7, I’m watching key low-priced AI stocks for specific price action.
Stocks like:
- SoundHound AI Inc. (NASDAQ: SOUN)
- C3.ai Inc. (NASDAQ: AI)
- Guardforce AI Co. Limited (NASDAQ: GFAI)
- Lantern Pharma Inc. (NASDAQ: LTRN)
We could see this momentum build before the split. Don’t wait for June 7, pay attention NOW!
Especially since the coming week is only four trading days.Â
The market is closed on Monday for Memorial Day. And shortened trading weeks invite a lot of volatility.
Get ready for a whirlwind week!
Cheers,
Bryce Tuohey
*Past performance does not indicate future results