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Mark Vickery
February 22, 2021

You follow Ahead of Wall Street – Edit

You follow Mark Vickery – Edit

Mark Vickery

In front of Wall Street

Markets closed mostly lower among major indices on this first day of a new trading week In fact, although the Dow Jones closed 29 points at the bell this afternoon, it had passed intra-day highs well, with 160 points at one point The Nasdaq broke off a full 246% on the day – its worst one-day performance since January 27, and closed at a three-week low The S&P 500 and the small-cap Russell 2000 also ended in red today: -078% and -069%, respectively There was not much of a major event that rocked the markets today, considering the strengthening of 10-year interest rates – up 25% last month, now at 1365% – and a new guide to the rise from Bank of America (BAC Quick QuoteBAC – Free Report) (which now expects 6Full-year GDP growth of 5%, which would be the strongest in 40 years) It looked more like slush sliding in big chunks on the roof (ask someone from Texas) We’re expecting big economic numbers and plenty of earnings reports this week, but not until tomorrow morning watching the day’s wind up, in the Nasdaq in Particularly, even though the sales activity volumes were heavier than a normal profit reservation exercise, that’s probably what we’re seeing here For example, Tesla (TSLA Quick QuoteTSLA – Free Report) fell by 85% on the day However, go back year on year and we’re seeing gains of over 325% If there ever was a business where you could expect a downturn, it’s Tesla A big company , no doubt, with a bright future But when a company has a P / E of around 200x the profits over time, some gravitational pull is inevitableYes, Tesla is pausing on new orders for its cheaper SUV, the Model Y, from $ 1,000 to just under $ 40,000.But it’s a vehicle that has already started shipping in China, albeit at lower than expected price However, the whole EV market was rocked by investors today, and this is the main point here Tesla will be fine, just like the Nasdaq We are just seeing a little push-pull on the Day-to-day trading activity We will be checking earnings and economic results at the end of the week to get a clearer idea of ​​what to expect in the future in the market We will also hear from Fed Chairman Jay Powell tomorrow and Wednesday Questions or comments about this article and / or its author? Click here >>

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TSLA Shares

World News – US – Nasdaq Drops Sale of Tesla (TSLA), But Due to Strong Valuation

Source: https://www.zacks.com/stock/news/1267636/nasdaq-drops-on-tesla-tsla-sell-off-but-from-high-valuation?art_rec=home-home-top_stories-ID03-img-1267636