Stock that we are watching HOOD, NVDA and AMD

 If you have been following the stock market lately you will notice that some stocks keep going up while the general market continues to suffer.  The 3 stocks that are very active and seeing high stock prices are Robinhood (HOOD), Advanced Micro Devices (AMD), and Nvidia (NVDA).

These stocks have gone up in prices by a lot in the past few days and investors are continuing to pounce on them in an effort to keep the price higher and higher every trading day for as long as possible.

Why is Robinhood stock going up?

Robinhood with stock Symbol HOOD is an online trading platform that recently went public, the stock hit the market at over $38 per share on July 29^th, 2021.

According to Investopedia On July 28, 2021, Robinhood sold shares in its IPO at $38 per share ahead of its public debut on the Nasdaq on July 29, raising close to $2 billion. The company, which will trade under the ticker symbol HOOD, sold 52.4 million shares, valuing it at $32 billion, which was slightly lower than forecast.

HOOD Stock is now selling for $70 per share after the stock has continued to soar higher and almost doubled in price. There are no fundamentals supporting this high price other than that it’s becoming a meme stock. The stock was up 50% today, as a result, it was halted a few times before the market closed. Tomorrow is another trading day and we are wondering how high it can get.

Why is AMD stock going up

Advanced microdevice AMD is another stock that we are watching, its share price has been going up aggressively lately. Five days ago, you could buy AMD shares for $96 per share, today August 4, 2021, it will cost you over $118 per share to buy a share of AMD stock. The chipmaker beat its earnings and now investors are flooding it to bid up the stock price.

Why is Nvidia stock going up?

Nvidia is a chipmaker and a powerful computer maker, the company’s stock has gone up from about $400 per share to over $800 per share, Nvidia then had a 4 to 1 stock split. And now the stock began selling at around $181 per share after the split. Today, NVDA stock is selling for $202 per share.

Note: Investingport owns AMD, NVDA, and HOOD.  This is not a buy recommendation, please consult your financial advisor, before buying these stocks.