Nasdaq Falls Again; Peloton Gives Up Post-Earnings Gains; PayPal Moves Lower
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the leader in the stock market's big rally since March. Unfortunately, it's also proven to be the leader in the recent pullback. The index has fallen more than its peers, and on Friday, the Nasdaq lost ground even as the Dow and S&P gained ground.
Most of the big-name tech players that make up the biggest weightings in the Nasdaq saw their share prices decline on Friday. Particularly notable, though, were Peloton Interactive (NASDAQ: PTON) and PayPal Holdings (NASDAQ: PYPL). The way their shares behaved was indicative of some of the challenges facing the entire Nasdaq right now.
Shares of Peloton Holdings finished down more than 4% on Friday. That would have been disappointing in any event, but the worst of it was that Peloton had been up as much as 12% earlier in the session on optimism about the stationary bike and treadmill maker's most recent quarterly earnings.
Source Fool.com
