It was not hammered, it went way too high in the first place. Imagine someone wants to buy your house for twice the price because they expect the rent to double

It was not hammered, it went way too high in the first place. Imagine someone wants to buy your house for twice the price because they expect the rent to double up. You'd happily sell it wouldn't you ? Then they realize the price isn't doubling up anytime soon ; they would either have to hold it for a very long time or sell it again for the original price. Yet nothing changed about your house, it's still brick and mortar. That's what happens with those stocks. Companies like NVidia expect it to happen from time to time so the price itself doesn't mean much (if anything they will buy their own stock when at a low price and sell it at a high price). It doesn't change the value of the company (which may or may not be priced correctly by the market at any given time).