The GraniteShares 2x Long NVDA Daily ETF (NVDL) closed down 12.38% at $71.71 on January 7th, as Nvidia's stock fell 5.89% to $140.63 amid a broader market downturn and profit-taking following recent highs. Nvidia's shares initially surged to a record high after CEO Jensen Huang's keynote at CES, where he unveiled new AI technologies and gaming GPUs. However, the stock reversed course as investors engaged in a "sell the news" reaction, compounded by a general market decline. Analysts noted that while Nvidia's announcements were promising, the focus on gaming GPUs rather than data center processors may have disappointed some investors. Additionally, the broader market was affected by rising yields, contributing to the sell-off.