Why NVIDIA, GoPro, Lannett Company and 2 Other Stocks Are Gaining Ground Today

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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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GoPro Inc (NASDAQ:GPRO), Camera, Sign, Brand, Bike, Riders, international motorcycle exhibition

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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.

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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.

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We’ll discuss why Lannett Company, Momo Inc and GoPro are making gains today on the next page. 

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