The company's shares fell as low as $26.01, wiping out all of the gains for 2024. The stock had peaked at $118.81 in March, at which point it was up more than fourfold for the year. Earlier that month, S&P Dow Jones added the stock to the S&P 500, and Wall Street was rallying around the company's growth, driven by sales of servers packed with Nvidia's artificial intelligence processors.