Tesla Falls, but Wall Street's Really Pounding This Beaten-Down Stock
The stock market has had the jitters this week, and Wednesday didn't give investors much more in the way of confidence. Extremely high expectations for short-term interest rates have more people convinced that a recession is imminent, and that sent some market benchmarks lower. The Nasdaq Composite (NASDAQINDEX: ^IXIC), however, managed to limit its losses to just 0.1% as of 1:15 p.m. EST.
Tesla (NASDAQ: TSLA) was in the news again on Wednesday, in part for some bad news for its vehicle fleet and in part for a negative call from a Wall Street stock analyst. However, the biggest declines came for a much smaller Nasdaq stock. Below, you'll learn more about Tesla's latest woes and then discover which stock was a big decliner on the day.
Shares of Tesla were down nearly 4% early Wednesday afternoon. The electric vehicle stock had to deal with a couple of challenges, one related to its business and one motivated by investor sentiment.
Source Fool.com
