Why Tesla Lagged This Favorite Nasdaq Winner Tuesday

The stock market gave up some momentum on Tuesday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) took an outsize hit. The Nasdaq fell almost 2% as of 11:30 a.m. EDT, as investors tried to parse through the macroeconomic and public health landscape to figure out whether stocks could continue their run to further all-time highs.

Over the past year and a half, Tesla (NASDAQ: TSLA) has been one of the top-performing Nasdaq stocks in the entire market. Yet those past gains have created high expectations that even solid earnings results don't always manage to meet. By contrast, another Nasdaq stock that's been popular among investors for years gained a lot of ground Tuesday morning after its own release of its most recent financial report. Below, we'll look at what sent Tesla lower and why this other stock is doing so well.

Tesla has been a high-growth performer, and this quarter's financial results were no exception. However, the stock slid backwards even as Tesla's fundamental performance floored the gas pedal. As of 11:30 a.m. EDT, Tesla shares were down 3.5%.

Source Fool.com