Chipmaker Nvidia’s 2021 stock rally nears 130% as retail investors jump in

Nvidia Corp. rallied to a record on Thursday, in the latest example of the company extending a 2021 advance that has seen the stock more than double.

The chipmaker rose 12% in its sixth straight positive session, its longest winning streak since June. The shares have climbed more than 20% over that stretch and are up nearly 130% this year. Nvidia is by far the biggest gainer in the Philadelphia Stock Exchange Semiconductor Index, which has climbed about 33% in 2021.

Thursday’s rally came after Wells Fargo Securities raised its price target to $320 from $245, seeing a sizable opportunity related to the metaverse, a digital environment that is accessed with virtual reality tools.