The tech-heavy Nasdaq Composite Index, after a long and steady rally this year, suffered its biggest two-day loss since mid-March to close out the week.
Before those declines, there were warning signs from Wall Street analysts who ordinarily shy away from rating any stock a “sell.” Shares of Tesla TSLA, +2.78% had more “sell” ratings than “buy” ratings, and so did 62 other stocks in the Russell 1000 Index RUI, -0.85%.
William Watts explains why it’s too early to call the tech-stock decline a correction.
Related Tesla and tech stories:
• Tesla’s stock story is one of newbs and rubes — but not quite the way you think it is
• Tesla’s stock sinks again to kick off a correction after disclosure of another large seller
• After Apple and Tesla stock splits, read this before jumping in
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