+ 4.33
+ 1.27%
+ 2.11
+ 1.5%

Tesla, Qualcomm Plummet, Lead QQQ Sharply Lower Monday

May 10, 2021 5:00 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Tesla, Qualcomm Plummet, Lead QQQ Sharply Lower Monday

The Nasdaq and companies in the broader technology sector were trading lower Monday amid profit-taking and overall weakness in the sector. Here’s how the major U.S. indices fared on the day:

  • The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) fell by 2.53% to $325.76.
  • The SPDR S&P 500 ETF Trust (NASDAQ:SPY) also closed lower by 0.99% at $417.94.
  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished a touch lower by 0.04% at $347.74.

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

Monday gainers for the Nasdaq were found in e-commerce, pharmaceuticals and consumer staples: eBay Inc (NASDAQ:EBAY), Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Walgreens Boots Alliance Inc (NASDAQ:WBA).

Meanwhile, Tesla Inc (NASDAQ:TSLA), QUALCOMM, Inc. (NASDAQ:QCOM) and Micron Technology, Inc. (NASDAQ:MU) were among the most hammered names in the tech-heavy QQQ.

Shares of EV and EV-related stocks at large were trading lower Monday amid weakness in Workhorse Group Inc (NASDAQ:WKHS). Workhorse fell after reporting a net loss and lower-than-expected sales, while it also lowered its 2021 production target.

Elsewhere On The Street

  • Shareholders of Sundial Growers Inc. (NASDAQ: SNDL) may finally have something to celebrate. The sell-off may be coming to an end, at least temporarily … Read More
  • Ampio Pharmaceuticals, Inc. (AMEX:AMPE) a biopharma developing immunology-based therapies for inflammatory diseases, announced Monday it has received approval to initiate a clinical study of its lead asset for long COVID-19 treatment. Englewood, Colorado-based Ampio said an investigational review board has approved the initiation of a Phase 1 study … Read More
  • Dogecoin knockoff Shiba Inu (SHIB) saw a price rise of over 1647.42% in the past week. At press time, SHIB was trading even higher at $0.00002948, gaining over 50% moments after Binance announced it would list the token … Read More

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

AMD And Nvidia Lead The Nasdaq Higher Thursday

U.S. indices had a mixed day of trading following Wednesday's Fed announcement. The Fed raised its inflation outlook for 2021 and 13 officials said they see a rate increase in 2023. read more

PayPal And Facebook Lead The Nasdaq Lower Wednesday

U.S. indices were trading lower Wednesday afternoon after the Federal Reserve held rates constant but raised its inflation expectations for 2021-2023. read more

Tesla And Biogen Lead The SPY Lower Tuesday

U.S. indices were trading lower Tuesday as investors await an outcome from this week's Fed meeting. read more

Netflix, Apple And Facebook Lead The QQQ Higher Monday

U.S. indices were trading lower for much of the day before recovering into the close as investors await this week's Fed meeting, which is expected to begin on Tuesday. read more