Since the start of 2023, Nvidia 's (NASDAQ: NVDA) stock has gained an astronomical 906% as of the time of writing. It's also right around its all-time high right now, but these two facts may scare some investors off. The common thought is, "Nvidia has risen so much already; how can it increase more?"

While the demand is there, it's clear that's not the sole reason why Nvidia's RTX 50 series is impossible to find in stores. Many retailers received fairly low stock quantities, as Nvidia reportedly experienced manufacturing issues.

Shares of Nvidia ended Thursday up 1% to about $125, but shares spent most of the day in red and briefly dipped below a key technical measure. That could mean more downside ahead.

Shares of Nvidia (NASDAQ: NVDA) were sinking Wednesday. The company's stock fell 6.2% as of 2:20 p.m. ET, but lost as much as 6.9% earlier in the day. The move comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.