Nvidia shares took a steep drop on Wednesday after Citron Research tweeted that they believe the stock is going to go back to $90 next year.
The tweet read: Citron readers know we have long been fans of $NVDA,but now the mkt is disregarding headwinds. In 2017 we will see $NVDA head back to $90
Shares fell almost 7% to $109.27 but saw some recovery hitting $112.95 in midday training.
Shares of the stock are up more than 240% this year and is the No. 1 performer in the S&P 500.
Nvidia declined to comment on Citron Research’s tweet.
Disclaimer: We have no position in NVIDIA Corporation (NASDAQ: NVDA) and have not been compensated for this article.