Mar 8, 08:08 PM

Nvidia's $2.3T Market Cap Falls 10% in 30 Mins, Erases $129B

Nvidia, identified by its ticker symbol $NVDA, experienced a significant stock price fluctuation, marking its most dramatic reversal in years. The company, which is the third largest in the world with a market cap of $2.3 trillion, saw its stock fall 10% in just 30 minutes, erasing an intraday gain that peaked at +5.1%. This volatility led to Nvidia's stock heading for its largest percentage decrease since October 17, 2023, when it fell 4.68%, breaking a six-day winning streak. Despite being up 11.77% month-to-date and 78.55% year-to-date, Nvidia ended the day with a 6% loss, contributing to a market-wide negative shift. The stock's dramatic drop was attributed to traders taking profits after a rally that saw the stock gain more than 19% in six consecutive trading days. As a result, Nvidia lost $129 billion in market cap in a single day, marking a significant drawdown for a company of its size. The stock peaked at $974/share before falling to $865, representing a decline not seen since May 31.

#Nvidia

Written with ChatGPT (GPT-4).

Nvidia's $2.3T Market Cap Falls 10% in 30 Mins, Erases $129B

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