Nvidia Stock Soars Threefold for Monthly Investor Since ChatGPT Launch
Nvidia's stock has seen significant growth since ChatGPT launched in November 2022. An investor who started buying $500 of Nvidia (NVDA) stock on the first trading day of every month, beginning December 1, 2022, would have made 46 buys and put $23,000 to work. The total invested has more than tripled to around $79,000.
The plan's first purchase went through at $17.14 per share, while the cheapest was $14 in early January 2023. The most expensive, this past June, cost about $224. This spread explains why the first year did most of the work in generating gains.
The average cost works out to about $65 per share, less than a third of today's price. A lump sum invested all at once on ChatGPT's launch day would be sitting near $290,000 today. However, dollar-cost averaging gives up return when a stock mostly rises.