Nvidia (NASDAQ: NVDA) stock 9.5% decrease The chip giant lost $279 billion in value on Tuesday, but it’s not the first time the company’s shares have taken a big hit, Deutsche Bank analyst Jim Reid said in a note on Wednesday.

According to according to reid, if you count multiple mentions per company, nvidia (NVDA) has posted half of the top 20 market declines in history. Conversely, the company has posted nine of the market’s largest single-day increases, he said.

Shares of Nvidia (NVDA) have been on a downward trend since the Jensen Huang-led company reported second-quarter results on August 28. The highly anticipated report showed revenue more than doubling year-over-year, suggesting the artificial intelligence (AI) craze is real.

For market participants accustomed to beating results and guidance, however, the chip giant’s latest outlook fell short of the highest expectations. In addition, the company confirmed some production delays for its long-awaited Blackwell line of graphics processing units.

NVDA shares fell 6.4% in response to the August 29 results, the decline wiping about $197 billion off the company’s market cap.

Tuesday 9.5% decrease This came ahead of a Bloomberg report after the market closed that the U.S. Department of Justice had subpoenaed Nvidia (NVDA) and other companies as part of an investigation into possible antitrust violations.

Deutsche Bank’s Reid shared a chart of the top 10 largest daily market cap losses on global markets throughout history, limiting the list to just one entry per company. See the chart below:

According to Reid, nine of the 10 biggest declines came post-COVID, which the analyst attributed to the increasing size of the Magnificent 7 companies. “Given the launch of the Mag-7 into the stratosphere with jet engines in recent quarters, it’s no surprise that these stocks make up the bulk of both top 10s,” he said.

Reid said that before COVID and the growth seen in the Mag-7, it would have taken a loss of between $50 billion and $80 billion to crack the top 10 single-day drops. “Huge daily moves in reality, but relatively small compared to what it takes today, even when you adjust for inflation,” he added.

Reid also shared a similar chart of the top 10 largest daily market cap gains on global markets throughout history. Nvidia (NVDA) also topped that list, with the stock making a 12.8% profit on July 31st to add $327B to market cap. See chart below:

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