VRT - Here's Why This Nvidia Partner's Stock Soared More Than 20% This Week
2024-04-26 08:43:37 ET
Data center equipment company and Nvidia partner Vertiv Holdings (NYSE: VRT) can do nothing wrong. The stock is up an incredible 561% since the start of 2023 and put on another 20.5% in the week to Friday morning, according to data provided by S&P Global Market Intelligence .
The latest move comes after Vertiv released a stellar set of first-quarter earnings, which saw the company blast past management's expectations, raise full-year guidance, and report 60% growth in organic orders.
The company's growth is driven by data center spending and, in turn, by heavy investment in artificial intelligence (AI) applications . While it's become a favorite theme among investors, Vertiv has the order growth to back up the optimism.
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Here's Why This Nvidia Partner's Stock Soared More Than 20% This Week