Why Nebius Group N.V. (NBIS) Went Up on Tuesday?

We recently published a list of 10 Firms Kick Off Shortened Trading Week With Impressive Gains. In this article, we are going to take a look at where Nebius Group N.V. (NASDAQ:NBIS) stands against firms that kick off shortened trading week with impressive gains.

The stock market kicked off the shortened trading week on a positive note, with all major indices finishing in the green territory as investors continued to monitor more corporate earnings results.

The S&P 500 led the charge among its peers, recording a modest 0.24 percent gain. The Dow Jones and the tech-heavy Nasdaq were similarly up, albeit posting lackluster gains of only 0.02 percent and 0.07 percent, respectively.

In comparison, 10 companies delivered stronger performances thanks to continued investor confidence. One company in particular stood out for jumping more than 100 percent in just two trading days.

To come up with Tuesday’s top performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

Nebius Group N.V. (NASDAQ:NBIS)

Technology firm Nebius Group N.V. (NASDAQ:NBIS) extended its winning streak for a third day on Tuesday, adding 8.05 percent to close at $48.07 apiece, as investor sentiment was fueled by Nvidia Corp.’s (NASDAQ:NVDA) investment in the company, while repositioning portfolios ahead of the release of its earnings performance on Wednesday, February 20.

Since last week, funds started flocking to Nebius Group (NASDAQ:NBIS) following news that NVDA, a key player in bolstering the Artificial Intelligence industry, announced that it had acquired a 0.3-percent stake in NBIS. The giant chipmaker’s investment boosted investor confidence on expectations of bright business prospects for the company.

Headquartered in Amsterdam, The Netherlands, Nebius Group (NASDAQ:NBIS) is a technology company offering AI infrastructure such as computing, storage, platforms, and tools and services for developers.

Overall, NBIS ranks 10th on our list of firms that kick off shortened trading week with impressive gains. 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.