Nvidia Corp.’s (NASDAQ:NVDA) AI-driven upswing hasn’t missed any Street watcher’s eye. The stock is up over 200% in the past year, 240%+ so far in 2023 and 65%+ over the past 6 months.
The company now commands the fifth-largest market cap on the U.S. exchanges:
It is true Nvidia’s stock did pick up steam through 2021, but it only witnessed a steep upward stride after October 2022. It is currently among the largest technology stocks on Wall Street and over the past two years, Nvidia has made its place in the U.S. stock market and many tech portfolios.
But, Nvidia hasn’t been able to find a place in Jim Cramer’s tech stock tags FAANG or MAMAA.
In October 2021, Cramer replaced his FAANG acronym with MAMAA, representing Meta, Alphabet, Microsoft Corp (NASDAQ:MSFT), Amazon and Apple. The reason cited for Netflix not being included has been its market capitalization not keeping up with the others. We can safely assume the same may have applied to Nvidia.
In the meantime, its market cap grew more than three-fold now and the future looks bright for the company. Nvidia is better positioned (and equipped) vis-a-vis competitors to profit and scale up with the AI adoption and growth.
The question remains: While the current MAMAA tag includes the top six stocks without Nvidia, will the CNBC Mad Money host Jim Cramer come up with a new tag soon to include it?
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