Did Nebius Group (NBIS) Close Shortened Trading Week Higher?

We recently published a list of 10 Firms Close Shortened Trading Week Higher. In this article, we are going to take a look at where Nebius Group N.V. (NASDAQ:NBIS) stands against other firms close shortened trading week higher.

Wall Street’s main indices ended the shortened trading week in the red territory on Friday after labor market data came in much hotter than expected, fueling concerns that the Federal Reserve will not cut rates again.

Both the Dow Jones and the Nasdaq Composite dived by 1.63 percent, while the S&P 500 declined by 1.54 percent.

Meanwhile, 10 companies in the mixed sector posted notable gains amid fresh catalysts that perked up buying appetite. In this article, let’s explore the reasons behind their rally.

In Friday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Nebius Group N.V. (NASDAQ:NBIS)

Nebius Group N.V. (NASDAQ:NBIS), a company specializing in building infrastructure to support Artificial Intelligence, grew its share price by 7.94 percent on Friday to finish at $33.18 each as investors resorted to bargain-hunting following a dip in the previous day’s trading.

The company also recently gained investor confidence after reports that Nvidia Corp. (NVDA), a leader in AI computing, has invested in Nebius Group N.V. (NASDAQ:NBIS).

Analysts said investors took Nvidia’s investment in Nebius as a cue to gobble up the latter’s shares, in hopes that it would propel Nebius’ growth similar to SoundHound AI, which in the past year alone, saw its shares surge by more than 649 percent, fueled by the booming AI sector.

Overall, NBIS ranks 4th on our list of firms close shortened trading week higher. While we acknowledge the potential of NBIS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NBIS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.