Why Newegg Stock Skyrocketed nearly 150% on Wednesday?

Motley Fool2021-07-08

The online retailer had great news for gamers in search of popular NVIDIA graphics cards. What happened Shares of Newegg Commerce (NASDAQ:NEGG), a consumer electronics-focused online retailer, soared...

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Comments

TeddyBeh
2021-07-10
TeddyBeh
Power sia... Can buy?
Stefffunnyyy
2021-07-08
Stefffunnyyy
Good
Kukudosmin
2021-07-08
Kukudosmin
Ok

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Through Tuesday, shares are up a whopping 195% in the approximately one and a half months that the stock has been publicly traded. TheS&P 500returned 5.7% over this period.\nSo what\nOn Tuesday, four models of NVIDIA's hard-to-find GeForce RTX graphics cards were available on Newegg Shuffle, which is its product lottery for popular products, according to Tech Radar. The models were reportedly the RTX 3060, RTX 3070, RTX 3070 Ti, and RTX 3090.\nNVIDIA's newer gaming GPUs are being snapped up extremely quickly by both gamers and some cryptocurrency miners, so the chance to win the opportunity to buy one of the popular models at a reasonable retail price surely delighted many folks.\nOn Wednesday Newegg announced that it will offer professional PC assembly to customers who design their own computers on the Newegg PC Builder. The Company’s build-to-order (BTO) offering takes advantage of Newegg’s ENIAC in-house computer assembly service to build and deliver fully assembled computers significantly faster than other competitive BTO offerings.\nNow what\nIt makes sense that investors viewed it as a positive that Newegg has a stock of popular NVIDIA graphics cards, while other big retailers are sold out. It's possible this could also suggest the company could be more successful than some peers in obtaining inventory of other select products that are in demand.\nThat said, Wednesday's nearly 150% surge in the stock was significantly overdone, in my view.\nNewegg hasn't yet announced a date for the release of its first quarterly report as a public company, so we don't know when more material news will be coming.\nI'd suggest that NVIDIA stock seems the best way to play the shortage of the company's GeForce RTX graphics cards.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":141866568,"gmtCreate":1625847790354,"gmtModify":1703749888987,"author":{"id":"3583737232394956","authorId":"3583737232394956","name":"TeddyBeh","avatar":"https://static.tigerbbs.com/d76007db84597ca100fd1bfc2152e60c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583737232394956","authorIdStr":"3583737232394956"},"htmlText":"Power sia... 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