TSLA: Tesla Stock Takes a Monday Morning Tumble

by Karl Utermohlen | March 24, 2014 1:40 pm

Tesla (TSLA[1]) is among the U.S. stocks that had a rough morning on Monday with Tesla stock down over 4%.

TSLA[2]Nasdaq was hit[3] especially hard, dropping about 63 points or 1.5%. Tesla, Netflix (NFLX[4]) and Facebook (FB[5]) are among the index’s recent outperformers that took a tumble today.

“These are all stocks that have had enormous gains over the last year,” said Federated Investors portfolio manager Matthew Kaufler.

“Those are high-valuation stocks,” he said. “And when you talk about a risk-off trade where people are withdrawing capital from riskier areas, that where people pull from first, stocks that have had significant run ups.”

TSLA stock is down about 4.33% in early trading Monday.

  1. TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA
  2. [Image]: https://investorplace.com/wp-content/uploads/2012/03/Tesla185.jpg
  3. Nasdaq was hit: http://www.cnbc.com/id/101519155
  4. NFLX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NFLX
  5. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB

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