Interactive Brokers disclosed its latest most-traded stock list, unveiling Nvidia as the new heavyweight champion, surpassing the previously dominant Tesla. Despite Tesla’s recent market turbulence triggered by earnings disappointments and event postponements, Nvidia’s resurgence to the top spot was a surprising turn of events. Tesla’s stock plummeted by 12.3% post its underwhelming earnings report, sending shockwaves across the tech sector, particularly on the Nasdaq.

The revelation left IBKR strategist, Steve Sosnick, amazed at Nvidia’s ascension, despite Tesla’s setback. This unexpected twist hints at the enduring allure of AI and semiconductor stocks among investors.

Sharing the limelight on IBKR’s list were the Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL), AMD, and Taiwan Semiconductor (TSM). Sosnick highlighted the resilience of investors who continue to bet big on stocks, undeterred by the recent tech sector slump.

Of note, CrowdStrike found itself securing the third spot on the list following a major IT outage caused by a faulty update, leading to a steep decline of nearly a quarter of its stock value within days. Serve Robotics also earned a place on the list, propelled by Nvidia’s investment which triggered a significant spike in its shares. Sosnick underlined the rarity of witnessing such a minor stock rank so high, attributing the surge to Nvidia’s involvement which spurred tech-savvy traders into action.