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If you bought Nvidia stock with your $1,200 stimulus check in 2020 you’d now have this much

If you bought Nvidia stock with your $1,200 stimulus check in 2020 you'd now have this much
Elmaz Sabovic

Four years ago, American citizens received $1,200 stimulus checks from the government to help them recover from the financial losses caused by the Covid-19 pandemic. 

These stimulus checks, officially known as Economic Impact Payments, were issued by the United States Internal Revenue Service (IRS) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The first round of payments amounted to $1,200 for each individual and $500 for each child.

Investing in Nvidia

As the first stimulus checks were paid out in March 2020, those savvy traders who chose to invest $1,200 in Nvidia (NASDAQ: NVDA) stock would be able to buy NVDA shares at a price of $60 each, meaning that the tech behemoth still didn’t experience gains of 3,100% due to the AI revolution.

NVDA stock price increase since the first stimulus check payment. Source: Google Finance
NVDA stock price increase since the first stimulus check payment. Source: Google Finance

Considering the impressive gains since the first stimulus check, the investment in NVDA stock would now be worth $23,280, pocketing investors a substantial return on the initial purchase.

NVDA stock price chart

As of the latest close on June 4, NVDA shares are worth $1,164.37 after daily gains of 1.25% and 2.99% in the previous five trading sessions.

Since 2024 started, NVDA shares have added a substantial 142.07% to their valuation.

NVDA stock YTD price chart. Source: Finbold
NVDA stock YTD price chart. Source: Finbold

Analysts believe that NVDA stock could go to $1,500

Analysts at Bank of America have increased their price target for Nvidia stock from $1,320 to a remarkable $1,500 while maintaining their ‘buy’ rating on the well-known chipmaker.

The analysts also anticipate that Nvidia’s potential earnings per share (EPS) will exceed $50 within the next two years, highlighting the impact of Nvidia’s new GB200 NVL2 platform and the MGX modular reference design platform.

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