NEBIUS (NASDAQ:NBIS) shares plummeted 10.36% during intraday trading on Friday, as the stock experienced significant downward pressure.

The sharp decline appears to be part of a broader market downturn that particularly hammered technology stocks. According to market reports, the sell-off swept across the tech sector, with the Nasdaq Composite Index falling 0.85% and the Russell 2000 declining 1.56% during the session, indicating widespread weakness affecting multiple companies.

While the broader market conditions drove the immediate price movement, analysts continue to monitor the company's performance, with Morgan Stanley recently initiating coverage with an equal-weight rating and investors looking ahead to the upcoming earnings report scheduled for February 19.