Nvidia rally: Retail investors stay out on growing slowdown worries

FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - The rally in the shares of Nvidia Corp that briefly propelled its market value to the trillion-dollar club saw little participation by retail traders, data showed, the latest sign they were turning cautious due to growing recession fears.

Even though the chip designer is one of the top picks for individual traders, Vanda Research analyst Lucas Mantle said it was mainly institutional investors betting on artificial intelligence that led to the biggest three-day percentage gain in more than two decades.