5 Biggest Losers on Thursday

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 84

Shares of NVIDIA Corporation (NASDAQ:NVDA) slid over four percent in pre-market trading Thursday after the U.S. government restricted the company from exporting certain chips to China.

The U.S. officials imposed the ban over security concerns. NVIDIA Corporation (NASDAQ:NVDA) said it would no longer be exporting its A100 and H100 chips to China. The ban would reduce its sales by $400 million in the current quarter. Nevertheless, NVIDIA Corporation (NASDAQ:NVDA) said it has submitted a request to continue exports of some products to China but isn’t sure if U.S. officials will allow it.

Meanwhile, NVIDIA Corporation (NASDAQ:NVDA) received a price-target cut from a research firm today following the export ban. Bernstein cut its price target for the Delaware-based tech giant from $210 per share to $180 per share.