Nasdaq Shrugs Off Uncertainty as Piedmont Lithium Soars on Tesla Deal; Inovio Plunges on Clinical Halt
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has gone through a correction over the past month, with investors facing an uncertain future. The COVID-19 pandemic, the U.S. presidential election, and issues like trade and economic stimulus are all making it difficult for market participants to figure out what's ahead. Yet investors decided on Monday that they'd had enough gloom and doom for one month, and that sent the Nasdaq up nearly 2% as of just before 3 p.m. EDT.
Just about everything Tesla (NASDAQ: TSLA) has touched lately turns to gold, and that was the case for Australian company Piedmont Lithium (NASDAQ: PLL). Unfortunately, the news wasn't as good for Inovio Pharmaceuticals (NASDAQ: INO), which got some bad news that sent its stock sliding.
Shares of Piedmont Lithium nearly quadrupled on Monday. The company's stock finally started trading again after a long halt in anticipation of Tesla's Battery Day event last week.
Source Fool.com
