Tesla Pulls Nasdaq Down 87 Points as Musk Scores Options Bonus; PACCAR Earnings Lift Stock
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the big winner in the stock market in 2020, easily outpacing the performance of its rival benchmarks. However, on Tuesday at least, the Nasdaq took a break. Both the Composite and the Nasdaq-100 Index were down around 1%, missing out on gains in other indexes like the Dow Jones Industrials and the Russell 2000.
One of the biggest weights pulling down the Nasdaq on Tuesday was Tesla (NASDAQ: TSLA), which saw another huge potential transfer of wealth to its illustrious chief executive officer. On the positive side, though, truck-maker PACCAR (NASDAQ: PCAR) was one of the best performers among top stocks on the Nasdaq after reporting solid earnings.
Tesla stock fell 4% on Tuesday, giving back some of its gains from Monday's big rise. There were a couple of factors that might have weighed on the electric-vehicle manufacturer's shares, and one in particular reminded shareholders of a huge incentive package they agreed to in order to keep CEO Elon Musk motivated.
Source Fool.com
