Motley Fool

Why Nvidia Stock Popped Again Today

For the fourth day in a row, shares of semiconductors specialist Nvidia (NASDAQ: NVDA) marched higher Tuesday, rising 2.6% through 12:15 p.m. EDT as bad news about the global semiconductor shortage continues to be interpreted as good news for Nvidia. On Monday, contract semiconductors manufacturer GlobalFoundries (NASDAQ: GFS) confirmed the results of its successful initial public offering, in which the company floated 55 million shares at an offer price of $47 per share. Although GlobalFoundries enjoyed no immediate “pop” from the offering (its shares actually closed the day down $0.20), those shares have since perked back up and are now trading about $56 a share.

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