(Updated – June 24, 2024 7:00 AM EDT)
Nvidia (NASDAQ:) shares are trading lower in Monday’s premarket, set to extend losses for a third straight session after already erasing more than $220 billion in market capitalization.
The stock was down 2.1% in the premarket at the time of writing. At the current price, NVDA is poised to lose another $65 billion of market cap.
Nvidia ended last week with a market valuation of around $3.1 trillion, lower than Apple’s (AAPL) $3.2 trillion and Microsoft’s (MSFT) $3.3 trillion. The AI chipmaker briefly overtook Microsoft last week to become the most valuable company in the world, though it couldn’t hold onto the top position for long.
Still, NVDA is up 155% year-to-date, making it the best-performing stock of the tech-heavy Nasdaq 100 index.
