The decline in Nvidia’s stock for the third day in a row has pushed the company into the record books. Since 2023, the company’s value has risen significantly.
It became last week the most valuable organization in the world.
The company’s stock price took a nosedive on Monday, dropping 6.7 percent.
It was the biggest one-day decline since April, and it wiped out almost $646 billion from the company’s value.
Bloomberg noted that this was also the biggest three-day loss in the history of any publicly listed company.
According to analyst Buff Dormeier, the decline in the stock price is worrying.
It’s because the company just became the biggest in the world, and it’s not doing well following its recent good news.
Everyone is trying to figure out what’s causing the stock to drop.
Since the company has defied expectations in the past few months, it’s possible that the decline in the stock price is due to investors’ growing concerns about its future.
When Nvidia stock was first launched a year ago, it was priced at around $22.33 per share.
It then hit its peak of almost $200 per share on June 14, 2018.
After last week, the company surpassed Apple and Microsoft for market cap, and it has since fallen back to third place, with a total of around $4.36 trillion.