Nvidia (NASDAQ:) shares were trading lower in premarket trading Monday, set to extend losses for a third straight session after already shedding more than $220 billion in market capitalization.
At the time of writing, shares were down 2.1% in premarket trading. At its current price, NVDA could lose another $65 billion in market cap.
Nvidia ended last week with a market valuation of about $3.1 trillion, lower than Apple (AAPL) at $3.2 trillion and Microsoft (MSFT) at $3.3 trillion. Last week, the AI chip maker briefly overtook Microsoft to become the world’s most valuable company, although it couldn’t hold on to the top spot for long.
However, NVDA is up 155% year to date, making it the best-performing stock in the tech-heavy Nasdaq 100 index.