NVIDIA Shares Rally Amid Rumor of Greenlight Stake, Einhorn Spokesperson Declines Comment
Shares of Nvidia Corp (NASDAQ: NVDA) have popped to a new 52-week high, up 2.59 percent to $19 on rumors that David Einhorn's Greenlight Capital has a long position in the stock.
Benzinga followed up and called Einhorn's office for confirmation, but a spokesperson declined to comment on exactly who the fund has met with.
The stock opened slightly positive to $18.57 from Wednesday's closing price of $18.53 and moved sharply higher. Traders should watch price action around the critical $19 figure that has served as resistance the past two months.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.