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Nvidia Posting Significant Gain In Afternoon Trading

Shares of Nvidia (NVDA) are seeing significant strength in afternoon trading on Monday, with the graphics chip maker jumping by 2.4 percent. Earlier in the session, Nvidia reached a record intraday high.

The advance by Nvidia comes after a note from Jefferies said Steven Spielberg's "Ready Player One" movie could be a catalyst for the company's stock.

"We believe that the movie will drive sales of VR headsets that require high-performance GPUs from NVDA," Jefferies said.

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