Why Nvidia Stock Slumped on Wednesday

·2 min read

Shares of Nvidia (NASDAQ: NVDA) traded lower on Wednesday, falling as much as 5.1%. The catalyst that sent the chipmaker lower today was bearish commentary by a Wall Street analyst that could signal additional declines for the sector. Bank of America analyst Vivek Arya lowered his price target on Nvidia to $220, down from $270, while maintaining his buy rating on the stock, according to The Fly.

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