Stockchase-logo
Loading...
    Track Stocks Watchlist
    Top Picks Today
    =iconClose Home All Opinions Top Picks Stocks Experts Top Experts Panic-proof Top 100 Stocks Monthly gems News
    Watchlist Track Stocks
    Top Picks Today
    Home » Daily

    Tesla and tech extend sell-off

    Allan Tong Posted On September 8, 2020
    0
    0
    Shares
    • Share On Facebook
    • Tweet It


    This week, you missed Past Top Picks comments by Michael Sprung including Canadian Natural Rsrcs (A Top Pick Aug 22/18, Down 27%) Get Premium to receive all past top picks opinions a few hours before market open.
    Get Premium

    Markets resumed the tech sell-off after Labour Day with overseas markets and North American futures giving clear warning before the Tuesday open. Hardest hit was high-flyer Tesla.  Tesla wasn’t added to the S&P 500 as widely expected, and shares plummeted 21% on Tuesday, its worst one-day drop ever. The Nasdaq continued to plunge from last week, closing -4.11% as every big tech name suffered large losses: Apple -6.73%, Amazon -4.39% and Microsoft -5.41%, for example.

    All 11 sectors of the S&P closed down with the S&P finishing -2.78%. The Dow ended -2.25%. Not only tech, but financials lost value on Tuesday. JP Morgan slid 3.48% and Goldman Sachs declined 4%. Energy also sold off with Chevron closing -3.61% along with a the price of WTI at -7.24%. WCS sold off nearly 9%.

    Canadian stocks suffered less damage, since tech has a smaller presence on the TSX. The TSX closed -0.73%, weighed down by energy (-7.59%). Shopify sold off 4.37% Enghouse Systems fell 3.23% and Lightspeed shed 2.3%. The day’s big winner was Village Farms International, soaring 10.38% after announcing a major cannabis acquisition. Meanwhile, Artis REIT jumped 4% on news it will spin off its Canadian retail properties. Gold was essentially flat for the day.

    🚗 Tesla Motors Inc -21%
    🍎 Apple -6.73%
    📦 Amazon.com -4.39%
    Ⓜ Microsoft -5.41%
    🏛 JP Morgan Chase & Co -3.48%
    🏛 Goldman Sachs -4%
    🛢 Chevron Texaco -3.61%
    🛍 Shopify Inc. -4.37%
    💿 Enghouse Systems -3.23%
    💾 Lightspeed POS -2.3%
    🌿 Village Farms International, Inc. +10.38%
    🏛 Artis Real Estate Investment Trust +4%

    0
    Shares
    • Share On Facebook
    • Tweet It




    Trending Now
    This Week's Stock Picks & BNN Top Picks Summary: OSPN-Q, VET-T and 20 Stock and 4 ETF Top Picks (Jul 18-24)
    Melisa R. H. July 25, 2025
    Weekly 52-Week Low (or 52-Week High): AEM-T, OLA-T, FOM-X, QTRH-T and More 52-Week Highs and Lows (Jul 16-22)
    Melisa R. H. July 23, 2025
    Tech leads bounce after rout
    Read Next

    Tech leads bounce after rout

    • logo

      We’re fintech passionates that reinvest almost all our revenues into the development of Stockchase and Wealthica. We hope you enjoy Stockchase and join Premium!

    • Top Reviews

      • Questrade Review: Pros & Cons of Trading with Questrade Canada (2023)
        8.5
      • The Ugly Truth About Identity Theft – Free Credit Report
        7
      • Questrade vs Others | The Review Competitors Don’t Want you to Read (2023)
    • Popular Posts

      • This Week's Stock Picks & BNN Top Picks Summary: OSPN-Q, VET-T and 20 Stock and 4 ETF Top Picks (Jul 18-24)
      • Weekly 52-Week Low (or 52-Week High): AEM-T, OLA-T, FOM-X, QTRH-T and More 52-Week Highs and Lows (Jul 16-22)
      • Most Anticipated Earnings: PSD-T, MTL-T and more Canadian Companies Reporting Earnings this Week (Jul 21-25)
      • JULY Gems
    • Stock Lists

      • Unraveling 15 of the Best Natural Gas Stocks: A Canada-USA...
        November 10, 2023
      • 13 Recession-Proof Stocks for Portfolio Safety
        October 26, 2023
      • The Ultimate Top Drone Stocks List for Sky-High Returns...
        October 25, 2023
      • Top Hotel Stocks to Buy for your Growth Portfolio
        October 12, 2023
      • Which Brookfield Stock to Buy? BAM vs BN: the Inspiring...
        October 9, 2023



    • Stockchase neither recommends nor promotes any investment strategies.

      About us : Privacy & Terms : Contact us

    © Stockchase Inc.
    Press enter/return to begin your search