Nvidia Jumps 8.74% After Earnings, Market Cap Surges $441.5 Billion in Second-Biggest Daily Gain
Investor Michael Burry increased his short positions in Nvidia and other tech stocks before Nvidia's latest earnings, while also buying call options on the chipmaker. After the report, Nvidia shares rose 8.74% to close at $227.98, lifting its market value to $5.49 trillion and adding $441.5 billion in a single day, the second-largest daily market cap gain in U. S. history.
Investor Michael Burry increased his bearish bets against Nvidia ahead of the company's latest earnings release, while simultaneously purchasing call options on Nvidia with December expiration and strike prices in the mid-to-high $200 range. The call option position accounted for between 3.5% and 4% of his portfolio. Burry also added to short positions in Oracle, Palantir, Nebius, and Caterpillar, bringing his total short stock exposure to more than 21% of the portfolio (excluding put options). He also increased holdings in Birkenstock and Freddie Mac. Following the earnings report, Nvidia shares surged 8.74% to close at $227.98, lifting the company's total market value to $5.49 trillion. The single-day increase of $441.5 billion (approximately RMB 2.97 trillion) marked the second-largest daily market capitalization gain in U. S. stock market history.