Why Nvidia Stock Fell by Nearly 6% Today

What comes up must come down, as the old saying goes, and that rule of gravity applied to Nvidia (NASDAQ: NVDA) stock on Wednesday. The days-long rally in the tech company's shares, fueled by its involvement in artificial intelligence (AI), fizzled out as investors apparently engaged in some profit-taking and an analyst published a new note about it that contained a few items of concern. On Wednesday morning, Citigroup prognosticator Atif Malik reiterated his buy recommendation on Nvidia stock and his $420 per share price target.