By
Josh O'Sullivan
April 23rd, 2024
Nvidia (NVDA) stock rose 2.8% to $247.04 after the company announced the full release of its GeForce Now game streaming service, which has been in beta for several years. Now GeForce will compete against other similar services like Google Stadia.
Nvidia (NVDA) stock market price shot up with a 2.8% rise in the wake of Wednesday, February 5. Such an increase has been observed after the company launched its flagship gaming service, GeForce. The stock has been trading on a horizontal consolidation for the last two months with strong support experienced at $236.
At the time of news reporting, the stock was trading at $247, with the bulls showing their tenacity to push further. It is a positive indicator that the market might continue with the strong uptrend that the Nvidia stock enjoyed the better part of 2019. With the market valuation increasing by the day, the current stock market price might see a rocket shoot to all high soon.
The tech company which specializes in computers graphics processing units (GPUs), has ventured into different cutting edge gaming technology previously. Although Nvidia has experienced a huge market competition from the giant service provider Google, GeForce is expected to compete ruthlessly with Google Stadia.
If the bulls keep fighting the week bears at the current pace, the last resistance zone at $260 will be a shadow to the rising stock market.
What Makes GeForce a Big Deal?
NVidia has been working on cloud gaming service GeForce for quite a long time in order to meet the huge expectation from the evolving gaming world. GeForce will be available on paid version and the free version, where the paid version will cost the users $5 per month in a yearly package.
The premium membership will see the members enjoy a free 90-day trial period with full working capabilities from the cloud system. This will include, six hours of an uninterrupted session, where the user can enjoy HD. With GeForce bringing onboard more games than Google’s Stadia, gaming enthusiast will shift their attention to the new tech that also employs RTX graphics.
For the free version, the users will have limited access to the services from the cloud system. This will be limited to using on times when the network traffic is not congested. In addition to that, the user will have one hour to play per session, although not limited to the number of sessions they can play.
Nvidia’s Future
With Nvidia listed on major security exchanges, it will attract a lot of investors on both the stock derivatives and sales, which will, therefore, reciprocate to a huge turnover for the company. Unless the company invests heavily in retaining the number one position in the gaming industry, its competitor Google will work on improving its streaming service and overtake them.
With unlimited possibilities in the gaming industry, Nvidia’s GeForce will see its stock improve and retain good taste to the gamers and investors.