Tesla Hit As The QQQ, SPY And DIA All Fell Today. Here's Why

Benzinga2021-04-23

U.S. indices traded lower Thursday on reports President Biden will propose a capital gains tax for the wealthy of up to 43.4%, which is higher than the previous proposal of 39.5%.

  • TheInvesco QQQ Trust Series 1(NASDAQ:QQQ) fell by 1.21% at $335.20.
  • TheSPDR S&P 500 ETF Trust(NASDAQ:SPY) closed lower by 0.91% at $412.27.
  • TheSPDR Dow Jones Industrial Average ETF Trust(NASDAQ:DIA) finished lower by 0.93% at $338.12.

Here are the day's winners and losers from the QQQ, according to data fromBenzinga Pro.

Gainers for the QQQ were few and far between:NetEase Inc(NASDAQ:NTES),Marriott International Inc(NASDAQ:MAR) andIllumina, Inc.(NASDAQ:ILMN) were among the only names positive for the day.

Micron Technology, Inc.(NASDAQ:MU),NVIDIA Corporation(NASDAQ:NVDA) andTesla Inc(NASDAQ:TSLA) were a few of the notable laggards for the QQQ.

Tesla shares were trading lower after U.S. senators voiced concern over possible emerging safety concerns related to Tesla products. Weakness is also due to an overall market dip.

Elsewhere On The Street

AMC Entertainment Holdings Inc.(NYSE:AMC) started trending Thursday, most likely after the stock gapped higher. AMC is one of the stocks at the center of the investing movement driven by the Reddit page WallStreetBets along with other popular stocks…

Walt Disney Co (NYSE:AMC) andSony Group Corporation’s(NYSE:SNE) Sony Pictures Entertainment said they have entered into a multi-year content licensing deal that will give Disney U.S. streaming and television rights for “Spider-Man” and other…

Chinese electric vehicle makerNio Inc.’s(NYSE:NIO) CEO William Li thinks Tesla is the biggest beneficiary of Chinese regulations. Li told the BBC the U.S. electric vehicle maker has been the biggest beneficiary of the Chinese government’s efforts to spur development…

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Kingvect
    2021-04-23
    Kingvect
    Don't like it...but have to endure 
  • jeffffffff
    2021-04-23
    jeffffffff
    Wow
  • Asim
    2021-04-23
    Asim
    Ouch. Please like and comment
  • syneo
    2021-04-23
    syneo
    [流淚] 
  • Limth
    2021-04-23
    Limth
    Hope temp setback
  • Limth
    2021-04-23
    Limth
    Bad news hope transient
Leave a comment
6