Nvidia's market value has plummeted by over $1 trillion since its peak in October, following a huge selloff on November 5 that affected numerous AI and technology stocks, including Apple, the world's most valuable company by market cap. The company's stock rebounded on November 6, but it still lags behind Krispy Kreme in terms of growth in 2026, with Krispy Kreme's stock price up about 3% compared to negative returns for Nvidia this year.
Krispy Kreme's stock price surged on November 5 after a solid earnings report, but has moderated since. The company's market cap is under $1 billion, a fraction of Nvidia's $4.5 trillion market cap. The Nvidia selloff was due in part to Democrats taking control of the House and Senate, with some lawmakers campaigning against AI data centers, thereby putting pressure on Nvidia's stock price.