Tesla Has Stock Traders Getting It All Wrong
The stock market has had a terrible first nine months of the year in 2022, but it seemed as though investors might get at least a brief respite. Futures contracts on major market benchmarks were moving higher Monday morning on the first day of the fourth quarter, although the Nasdaq Composite (NASDAQINDEX: ^IXIC) only managed barely to poke into positive territory as of 8 a.m. ET after having been down much of the morning.
The downward move in Tesla (NASDAQ: TSLA) was the big culprit holding the Nasdaq back Monday morning. Shareholders responded negatively to the electric vehicle (EV) company's third-quarter unit volume numbers, and there were some reasons to justify their concern. However, in focusing too much on one particular metric, investors seemed to ignore more promising news that arguably should have kept them more bullish on Tesla's future.
Image source: Tesla.
Source Fool.com
