Shares of (NASDAQ: TSLA) fell on Monday, declining as much as 5.4% at the day's lows, before recovering to a 3.8% decline as of 2:40 p.m. ET.
Yes, the broader Nasdaq Composite (NASDAQINDEX: ^IXIC) was down as well today, as traders appeared to rotate out of large-cap tech stocks that have already gained an impressive amount this year.
Tesla is certainly in that camp, having roughly doubled in 2023, even after today's decline. However, its decline on Monday was exacerbated by a downgrade from a major Wall Street firm.
Source Fool.com