On Wednesday, the three leading indices on Wall Street opened cautiously. Throughout the day, everyone has turned around, and the fall has increased in strength.
This is what it looks like at closing time:
- Industrial-heavy Dow Jones fell 1.92 percent.
- The S&P 500 aggregate index fell 2.37 percent.
- Technology-heavy Nasdaq fell 3.02 percent.
Nikola falls further
– There have been concerns about what will happen in the autumn and winter. That is what investors are thinking about, says strategist Brent Schutte and refers to increasing corona infection and political unrest before the presidential election. But at the same time he raises expectations
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The tech stocks in particular have had a tough day. The technological heavyweights Facebook, Amazon, Apple and Microsoft are all falling apart.
Nikola has been through some tough weeks, after it stormed around the company after fraud allegations. Trevor Milton resigned as chairman of the board on Monday. According to The Wall Street Journal on Wednesday, Nikolas’ talks with several possible partners about building hydrogen filling stations have stopped. The share had fallen more than 25 percent at closing time.
Nike is one of today’s winners, and ended up above eight percent, after submitting an accounting report that showed an increase in sales of 80 percent.
Heavy for Tesla
Tesla has had a lead-heavy day on the New York Stock Exchange, after founder Elon Musk presented news from the company during yesterday’s “Battery day”, which for months has been boosted by Musk himself. Investors were not impressed by the company’s plans to produce its own batteries, as well as have a Tesla model for 25,000 dollars ready within three years.
– All in all, Tesla’s battery day was a lot about vision and boldness, but little about details and deliveries in the short term, analyst Toni Sacconaghi said on Wednesday, writes Marketwatch.
The stock fell in after-sales, and when Wall Street opened on Wednesday, it fell 3.35 percent at the start. And it just has to keep going.
At closing time, it has fallen 10.34 percent.
Despite this, the Tesla stock has more than quadrupled in value so far this year. Analyst Ari Wald says that this indicates that the share will continue to rise in the long term, despite the decline seen in September.
Before Battery Day, Tesla held its annual shareholders’ meeting.
– This has been the most difficult year in Tesla’s history. But, while the rest of the automotive industry has fallen, Tesla has grown. We will do quite well in 2020 and probably get a growth of between 30 and 40 percent, Musk said in the parking lot outside Tesla’s main factory in Fremont. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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