Why Tesla and Peloton Interactive Led the Nasdaq Lower Wednesday
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has led the broader stock market higher for nearly a full year since the coronavirus bear market. On Wednesday, the Nasdaq led the broader market lower, falling almost 1% as of 1:30 p.m. EST even as other stock benchmarks were mixed.
Investors have seen extraordinarily good returns from individual Nasdaq stocks. Two of the biggest standouts have been electric vehicle giant Tesla (NASDAQ: TSLA) and connected fitness equipment manufacturer Peloton Interactive (NASDAQ: PTON), but today, the two high-flying growth stocks were headed lower. Below, we'll take a closer look at what was sending Tesla and Peloton into the red on Wednesday.
Shares of Tesla were down about 2% on Wednesday afternoon, but that reflected a partial recovery from its worst levels of the day. Earlier in the morning, Tesla has been off more than 4% and falling to prices it hadn't seen since the beginning of January.
Source Fool.com
