Nvidia Stock Declines, Set to Lose $65 Million in Market Cap By Investing.com

Nvidia (NASDAQ:) shares are trading lower in the pre-market on Monday, and are set to extend their losses for a third straight session after wiping out more than $220 billion in market value.

The stock is down 2.1% pre-market at the time of writing. At the current price, NVDA is about to lose another $65 billion in market cap.

Nvidia ended last week with a market valuation of about $3.1 trillion, less than Apple’s (AAPL) valuation of $3.2 trillion and Microsoft’s (MSFT) valuation of $3.3 trillion. The artificial intelligence chip maker briefly overtook Microsoft (NASDAQ:) last week to become the world’s most valuable company, though it couldn’t hold onto the top spot for long.

However, NVDA stock is up 155% year to date, making it the best-performing stock in the tech-heavy Nasdaq 100 index.