Why Tesla Isn't Charging Up the Nasdaq Tuesday
The Nasdaq Composite (NASDAQINDEX: ^IXIC) set a new record high on Monday, and investors have been hopeful that the flood of earnings reports hitting the market would help the tech-heavy index to sustain its upward momentum. With many fast-growing companies listed on the exchange, Wall Street has largely gotten what it has wished for from the Nasdaq over the past year, as the index is up more than 60% during that time.
One of the best performers among top stocks on the Nasdaq has been Tesla (NASDAQ: TSLA). The electric vehicle specialist has dramatically accelerated its long-term share-price gains over the past year, posting returns of more than 400%. In that context, the slight drop of about 3% in Tesla's stock in pre-market trading on Tuesday morning following its Monday night earnings report is largely insignificant. Yet given the role that Tesla has played in the bull market over the past year, it's best for investors to know what's driving at least mild disappointment among those following the Elon Musk-led automaker.
Image source: Tesla.
Source Fool.com
