All three market indices are gaining ground on Monday as Brexit-triggered fears slowly recede. Some companies are making moves today themselves, including NVIDIA Corporation (NASDAQ:NVDA), Great Basin Scientific Inc (NASDAQ:GBSN), Lannett Company, Inc. (NYSE:LCI), Momo Inc (ADR) (NASDAQ:MOMO), and GoPro Inc (NASDAQ:GPRO). Let’s find out the reasons behind these gains and assess hedge fund sentiment towards these companies.
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NVIDIA’s Stock Flying High
NVIDIA Corporation (NASDAQ:NVDA) is rising today on positive sentiment, gaining nearly 3%. The company recently revealed the GeForce GTX 1060, which reportedly delivers a GTX 980-level of performance but at twice the energy efficiency in VR. Analysts believe that NVIDIA’s microchips have strong potential to perform well in the VR-based, next-generation gaming ecosystem. A total of 43 hedge funds in our system were bullish on NVIDIA Corporation (NASDAQ:NVDA) at the end of the first quarter, with the aggregate value of their positions valued at about $971.4 million.
Great Basin Scientific to Provide Business Update
Shares of Great Basin Scientific Inc (NASDAQ:GBSN) have skyrocketed by more than 12% today after the company said that it would provide a preliminary review on revenue and customer acquisition results for the second quarter on July 14. The Utah-based molecular diagnostic testing company will also provide a business update on its operational progress and guidance on its corporate goals. None of the funds in Insider Monkey’s database owned shares of the company at the end of March.
We’ll discuss why Lannett Company, Momo Inc and GoPro are making gains today on the next page.