Tesla Lone Winner Among Top Nasdaq Stocks; Petco Looks to IPO

The Nasdaq Composite (NASDAQINDEX: ^IXIC) found itself in an unusual situation on Wednesday morning. Throughout 2020, the Nasdaq had the leadership role for the stock market, dramatically outpacing other major benchmarks. However, even as other indexes posted huge moves higher on Wednesday, the Nasdaq had to settle for just a small gain as of midday.

In fact, among the top Nasdaq stocks, only Tesla (NASDAQ: TSLA) managed to make it into the green. However, that doesn't mean that companies aren't clamoring to become part of the Nasdaq phenomenon, as Petco indicated its intent to list its shares on the exchange and set anticipated terms for its coming IPO.

Shares of Tesla were higher by nearly 5% on Wednesday, setting another all-time record. The electric-vehicle maker has a loyal following, and Wall Street stock analysts have come around to the virtues of the share price's unrelenting ascent.

Source Fool.com