Tesla Leads the Nasdaq Lower, but This Stock's Taking an Even Bigger Hit
Wall Street just experienced the worst first half of a year in decades, and unfortunately, the second half of 2022 doesn't look to be shaping up much better. After a reasonable gain on Friday, the Nasdaq Composite (NASDAQINDEX: ^IXIC) looks poised to resume its descent when the market opens for trading on Tuesday morning. As of 8:30 a.m. ET, Nasdaq futures had been down almost 1.5% to 11,452.
Tesla (NASDAQ: TSLA) played a significant role in the bull market in the Nasdaq between early 2020 and late 2021, and it still commands a lot of investor attention. Disappointing news over the weekend confirmed some of the weakness the electric vehicle (EV) pioneer has seen lately, and that has shareholders less than happy about its immediate future. However, another large Nasdaq stock took an even bigger hit early Tuesday. Here's why Tesla is falling, and the stock that's falling even further.
Shares of Tesla were down nearly 2% in premarket trading, exceeding the losses in the broader Nasdaq. The move lower for the EV company came after it announced its latest production and delivery figures for the just-ended second quarter of 2022.
Source Fool.com
