Nasdaq Record, Huang Sells Nvidia & Coinbase Surges

The re-emergence of risk appetite across financial markets propelled the Nasdaq 100 index (NQ) to its first record high since February, while Coinbase (COIN) shares surged over 12% on Tuesday, 24 June.

The renewed interest in tech stocks was accompanied by news that Nvidia (NVDA) CEO Jensen Huang has begun selling some of his stock in the company after a huge AIR-fuelled rally over the past few years. 

Here’s what you need to know:

Nasdaq 100 Price Performance

The Nasdaq 100 is the first of the major US stock averages to complete its V-shaped bottom with a record closing high on 24 June. The ‘V’ was formed via the sharp drop in March-April and subsequent rally in price. It has been accompanied by evidence of accumulation in the rising Accumulation-Distribution (A/D) technical indicator.

*Past performance does not indicate future results 

Nasdaq 100 Hits Fresh Record

The Nasdaq 100, which includes most of America’s Big Tech stocks, climbed 1.5% on Tuesday to close at 22,190, marking its first record high since 19 February. Meanwhile, the broader S&P 500 gained 1.1%, ending the session less than 1% below its all-time high. 

Markets adopted a clear risk-on tone Tuesday, buoyed by reports that Israel and Iran had agreed to a ceasefire late Monday. While some uncertainty surfaced early in the session on talk of both sides breaching the deal, sentiment improved as the day progressed. Confidence was supported by Israel’s move to ease wartime measures and fully reopen major airports, suggesting the truce was holding.

Tech stocks led the rebound, with most of the Magnificent Seven posting gains. Microsoft (MSFT) rose nearly 1% to hit a fresh record high, while Nvidia climbed 2.6%, marking its strongest close since January. Amazon (AMZN) and Meta (META) each gained around 2%, and Alphabet (GOOGL) added 1%. Tesla (TSLA) and Apple (AAPL) underperformed, slipping 2.4% and 0.6%, respectively.

Jensen Huang Sells Some Nvidia Shares

Nvidia CEO and co-founder Jensen Huang has begun selling shares in the company under a prearranged plan that saw him offloading 100,000 shares across Friday and Monday. Based on Tuesday’s opening price, the sales were worth about $15 million.

These initial transactions form part of a larger program disclosed in March to sell up to 600,000 shares by the end of 2025, an amount that could be valued at a whopping $873 million at current prices.

Huang is using a 10b5-1 trading plan, a standard mechanism that allows corporate insiders to sell shares according to a predetermined schedule.This isn’t the first time Huang has done this since last year he sold roughly $700 million worth of Nvidia shares under the same framework. Despite the ongoing sales, he remains one of the company’s largest shareholders and still holds over 800 million shares, according to a recent SEC filing. (Source: Tradingview)

Coinbase Rallies with Bitcoin

Coinbase was top riser on the S&P 500 on Tuesday, gaining 12.1% and extending its recent strong run with dual catalysts of continued enthusiasm since the Senate passed the GENIUS Act last week and a rally in Bitcoin (BTC) as well as other cryptocurrencies.

The bill could expand the use of stablecoins and has already spurred a jaw-dropping and meme stock-like 750% rally in stablecoin issuer Circle (CRCL). Adding to the bullish sentiment, Cathie Wood’s Ark Invest disclosed late Monday that two of its funds had purchased a combined 4,200 shares of Coinbase. (Source: Investopedia and Bloomberg)

Conclusion

Markets saw a clear return of risk appetite, with the Nasdaq 100 reaching a new record high and tech stocks driving broad market gains. Nvidia drew focus as CEO Jensen Huang began selling shares under a scheduled plan, while Coinbase surged on renewed crypto enthusiasm and supportive legislation. Market sentiment appears strong for now, though geopolitical and policy risks remain in play.

*Past performance does not indicate future results

*Cryptocurrency is not available in certain regions