Nasdaq Bucks Downtrend as Tesla Flirts With $500; Sonos Has Never Sounded Better

Investors have gotten used to seeing the Nasdaq Composite (NASDAQINDEX: ^IXIC) chart its own path, and Thursday was no exception. Even as other major market benchmarks headed lower, the Nasdaq managed to post gains of 0.3% as of 12:45 p.m. EST, once again demonstrating why it has been able to provide so much outperformance throughout 2020.

Among top Nasdaq stocks, Tesla (NASDAQ: TSLA) continued to get a lot of attention from investors, many of whom appear to be positioning themselves ahead of the forced buying from index fund managers next month. Yet the truly large gains were reserved for Sonos (NASDAQ: SONO), which released extremely encouraging financial results that make the speaker maker sound like an interesting investment to many.

Tesla shares were up another 2% early Thursday afternoon, after having been up as much as 5% earlier in the session. At its best levels of the day, Tesla touched all-time highs above the $500 per-share mark.

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Source Fool.com