A sun halo over Curacao. (Photo by Wild Horizons/Universal Images Group via Getty Images)

A tiny UK company is showing how easy it is to get an (undeserved?) Nvidia halo effect

Step 1: join a free Nvidia program. Step 2: watch stock go up. Step 3: watch stock go down.

9/24/25 9:35AM

UK-based RedCloud Holdings, which operates a business-to-business platform for retailers, nearly doubled at its peak in premarket trading after announcing that “it has joined the NVIDIA Connect program as part of its mission to deliver a new operating system for global trade.”

RedCloud is fairly small, with a market cap of under $70 million heading into Wednesday’s session. Shares are up about 25% as of 9:33 a.m. ET.

What is the Nvidia Connect program, you might ask? Sounds fancy. And official.

The $4 trillion chip designer’s website describes it as “a free program that helps software development companies and service providers shorten time to market through tailored development resources, technical training and guidance, and preferred pricing on NVIDIA technologies.”

In other words, companies learn how to be more effective users (read: customers!) of Nvidia’s products and technology.

RedCloud is hardly the first company to seek a massive spike upon revealing its membership in this club.

However, the vast majority of these jumps were short-lived. With the exception of Stereotaxis, every company on this list proceeded to get crushed after the initial announcement-driven advance.

A cynic might point out that the requirements of joining the Nvidia Connect program are arguably only slightly more onerous than securing a Discover credit card: the applying organization “must provide at least two contacts with corporate emails, maintain a working website, be officially incorporated, and accept the program’s terms and conditions” to be eligible, per Nvidia. There are no application or membership fees.

Still, Jorge Guerrero, assistant vice president of product at RedCloud, made it sound like a pretty big deal in the company’s press release:

“Joining NVIDIA Connect is an exciting opportunity for our development teams. This program provides us with access to NVIDIA’s ecosystem of AI tools and expertise, which we expect to be instrumental in building powerful AI-native infrastructure to enable intelligent trade of FMCG products across global supply chains. Specifically, we are seeking to expand and refine our AI models, improve real-time inference capabilities, and accelerate the deployment of next-generation applications.”

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

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Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

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A tiny UK company is showing how easy it is to get an (undeserved?) Nvidia halo effect

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