NVIDIA Corporation (NASDAQ: NVDA ) shareholders have witnessed a decrease in hedge fund sentiment during third quarter. Some hedge fund managers might have sensed the looming demand declines and bolted out. Nevertheless, NVDA was still the 67th most popular stock among hedge funds at the end of September (check out the list of 30 most popular stocks among hedge funds now). Today, NVIDIA shares plunged more than 19%. This is a stock that was trading at $12 six years ago and its fans were arguing that Nvidia should replace Netflix, Inc. ( NFLX ) in the FAANG group. Here is how FT explains the sharp decline: "Cryptocurrency miner demand for Nvidia chips raised revenue last year. But the decision to stock up on the cards was a bad one. As prices for cryptocurrencies such as bitcoin fell, so did demand. Nvidia's core gaming unit, which sold the cards used for crypto-mining, still makes up the bulk of revenue.