This one stock could potentially undo the 2023 rebound if it falls another 10% as one analyst expects

Can the S&P 500 index and Nasdaq Composite hold on to their 2023 gains if Nvidia Corp. falls? It’s a question that’s cropping up more and more these days.

And not without reason. Tesla Inc. TSLA, another member of the so-called “Magnificent Seven” alongside Nvidia NVDA, has seen its shares sink 20% over the past three months, according to FactSet data. The latest leg lower followed an earnings report released last month some described as “disastrous.”

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