Nvidia (NASDAQ:NVDA) 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 (NASDAQ:MSFT) 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.