Nvidia (NVDA) became the third US company in history to exceed $3 trillion on Wednesday – after Apple and Microsoft. It is now the second most valuable company in the US market, surpassing Apple and trailing only Microsoft. 
NVDA has added $684 billion in market cap over just the last 9 trading sessions since reporting 1Q24 earnings two weeks ago (Wednesday 5/22). At its current run rate of ~$60 billion in net income per year, it would take NVDA 11 years to earn that much money. There are only a handful of stocks that are worth more than what NVDA has added to its value in just the last 9 sessions. It is now trading nearly 90% above its 200 Day Moving Average (DMA) – 30% is traditionally considered extremely overbought. I am not exagerating when I say that this episode will be written about in the history books. 
In many ways it has become a one stock market with NVDA responsible for about 1/3 of the S&P’s YTD gain.The tension continues to build ahead of its 10 for 1 split to take effect on Monday June 10. The next few sessions could potentially be some of the most exciting you will ever witness.More By This Author:Party Like It’s 1999
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