Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher.

On Wednesday, Nutanix Inc (NTNX) stock saw a decline, ending the day at $66.7 which represents a decrease of $-5.65 or -7.81% from the prior close of $72.35. The stock opened at $73.96 and touched a low of $66.15 during the day, reaching a high of $74.1. The volume of shares traded was 7.58 million exceeding the average volume of 2.27 million.