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    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

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    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

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    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

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    PAP Boss to Niger Delta Youths, Stay Away from the Protest

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    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

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    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

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Nvidia’s CEO Sold Stock for the First Time This Year and Netted the Most He Ever Has in a Single Month

July 6, 2024
in Business
Nvidia’s CEO Sold Stock for the First Time This Year and Netted the Most He Ever Has in a Single Month
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If you’ve invested in AI chip maker Nvidia, how do you know when to sell?

Nvidia CEO Jensen Huang made his first share sale of the year in June, cashing in 1.3 million shares to net $169 million, the most he’s gained so far in one month, Bloomberg reported on Wednesday.

Factoring in June’s sale, Huang has gained close to $1.1 billion from selling stock since January 2020. He’s not done yet, with U.S. Securities and Exchange Commission filings showing that he intends to keep cashing in this month.

As of June, Huang had a 3.8% stake in Nvidia, or over 934 million shares, making him the company’s largest individual stockholder. Nvidia CEO Jensen Huang in March 2024. (Photo by Justin Sullivan/Getty Images)

From the start of this year, Nvidia executives and directors have sold shares collectively worth more than $700 million, per Bloomberg.

Nvidia has seen over 3,000% stock growth in the past five years, which may have elevated more than one long-term employee to “semi-retired” status based on stock grants alone.

Related: Employees Who Worked at This Company for the Past 5 Years Are Now Multi-Millionaires in ‘Semi-Retirement’

Nvidia briefly became the most valuable company in the world in mid-June, with a market cap higher than $3 trillion.

Nvidia’s stock isn’t always stable, though. Last week, shares dropped 16%, and the company lost more than $500 billion in market cap over three trading days. The loss was more than the entire market cap of Samsung or Costco.

Nvidia stock rebounded, and its valuation, still over $3 trillion at the time of writing, is now only surpassed by Microsoft and Apple.

“The big question people have on this stock right now is just sustainability,” Bernstein Research senior analyst Stacy Rasgon told The Hill on Friday. “It’s just the numbers have gotten so big, so quickly, that you’ve got to wonder, can they continue?”

Related: Nvidia CEO Jensen Huang Reveals His Competition Strategy

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Entrepreneur.com – https://www.entrepreneur.com/business-news/nvidia-ceo-jensen-huang-sells-record-169-million-in-stock/476701

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