When it comes to the world of stocks, Nvidia is a company that always seems to be making headlines. Recently, Nvidia stock closed 4% higher on a report that CEO Jensen Huang is done selling shares. This news comes after Huang raked in an impressive $713 million in total proceeds from the sales. Despite this, he still remains Nvidia’s biggest shareholder.
The surge in Nvidia shares, climbing as much as 5% on Tuesday, was due to a report from Barron’s stating that Huang has reached the 6-million-share maximum threshold he’s permitted to sell under a prearranged plan adopted in March. This trading plan, known as a 10b5-1, allows company insiders to trade a firm’s stock in a predetermined manner.
Huang’s status as Nvidia’s largest shareholder remains unchanged, with an SEC filing from September 18th showing that he holds over 75 million worth of Nvidia common stock. Additionally, he also holds another $785 million worth of stock through various trusts and partnerships.
Nvidia’s stock has seen an impressive rally of 150% year-to-date, making it a favorite among Wall Street investors. The company’s semiconductor hardware has become a core component of the artificial intelligence boom, with top customers including tech giants like Microsoft, Meta, Alphabet, and Amazon.
This news highlights the ongoing success of Nvidia and its CEO Jensen Huang in the stock market. As investors continue to keep an eye on the company’s performance, it’s clear that Nvidia remains a key player in the ever-evolving world of technology and finance. Stay tuned to Extreme Investor Network for more updates on all things finance and investing.