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Tesla, Qualcomm Plummet, Lead QQQ Sharply Lower Monday

May 10, 2021 5:00 pm
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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

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