Nvidia Is 23% Below Its Record-Closing High: 6 Reasons I'm Still Not a Buyer
There's more to the Nvidia story than meets the eye.
Over the last month, Wall Street has sent a stern warning to the investing community that stocks can, in fact, move lower. It took just 16 trading sessions for the benchmark S&P 500 to dip into correction territory -- a decline of at least 10% from a recent closing high -- with the Nasdaq Composite falling into correction at an even faster pace.
While stock market corrections tend to weigh on most sectors and industries, few of Wall Street's most-influential businesses have been hit harder than artificial intelligence (AI) juggernaut Nvidia (NASDAQ: NVDA), which is now 23% below its record-closing high of $149.43 (achieved on Jan. 6).
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