Nvidia is to replace ailing energy corporation Enron in Standard & Poor's index of top 500 companies, the financial information company said last night.
Nvidia's shares closed at $53.61 yesterday after 38.3 million shares changed hands - four times as many Nvidia shares as are normally traded in a day - almost certainly on the expectation of the S&P announcement, which will increase interest an already popular stock. Index-tracking funds will pick up the shares, for a start.
Indeed, Nvidia is one of the few, possibly the only stock to have been largely unaffected by the downturn in hi-tech stocks. ®