Nasdaq Rises Despite Nikola Hit; Marinus Soars
Many investors have been worried about the Nasdaq Composite (NASDAQINDEX: ^IXIC) lately. The index has taken a leadership role during 2020's huge rebound from the coronavirus bear market, but its steep decline in early September made some believe that the best of times for the Nasdaq were now behind it.
However, this week has been a strong one for the Nasdaq, and Tuesday's early action kept that upward momentum. The Nasdaq gained more than 1% in early trading Tuesday, and helping to lead that charge was new enthusiasm about drugmaker Marinus Pharmaceuticals (NASDAQ: MRNS). The positive sentiment wasn't enough to lift shares of Nikola (NASDAQ: NKLA), though, as the electric vehicle company continues to deal with issues raised by a short-selling investor in a recent report.
Shares of Nikola dropped 5% early Tuesday as investors continued to wrestle with criticism of the electric truck company. The latest shoe to drop has expanded worries for shareholders by potentially getting the U.S. Securities and Exchange Commission more involved in Nikola's debate with short-seller Hindenburg Research.
Source Fool.com
