Nvidia has wiped out $657 billion in market capitalization this week — its sixth consecutive week of stock declines.
Nvidia’s stock is on a losing streak not seen in 14 years. What comes next?
In short
The chipmaker has officially logged six straight weeks of negative share performance. This sustained decline represents a negative milestone that had not occurred for the company in 14 years. Over the course of the latest week alone, the selloff erased $657 billion from the firm's total market capitalization.
Key points
- The semiconductor giant is enduring its longest negative stretch in over a decade.: The semiconductor giant is enduring its longest negative stretch in over a decade.
- Massive market capitalization losses highlight the severe velocity of the current selloff.: Massive market capitalization losses highlight the severe velocity of the current selloff.
- The company has failed to find price support across six straight trading weeks.: The company has failed to find price support across six straight trading weeks.