The downgrade came the same day Morgan Stanley removed Nvidia as its top semiconductor pick. Nvidia shares fell about 3.7% on Robinhood's overnight platform after CEO Jensen Huang admitted an affair and the board launched a probe. Analysts flagged leadership risks ahead of earnings. Nvidia (NVDA) shares rebounded from this week's losses and tacked on more than 4% in premarket trading on Wednesday even as Baird downgraded the semiconductor giant and Morgan.