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Nikola Puts the Brakes on the Nasdaq Rally -- But Moderna's Soaring Again

Nikola Puts the Brakes on the Nasdaq Rally -- But Moderna's Soaring Again

Stocks can't go straight up forever, and even though the Nasdaq Composite (NASDAQINDEX: ^IXIC) has had an amazing year in 2020, its upward momentum wasn't enough to send the much-followed index toward another record high. As of 1:30 p.m. EST, the Nasdaq Composite was down around a third of a percent, having recovered from much larger losses earlier in the trading session. One of the biggest downward movers in the Nasdaq was electric truck specialist Nikola (NASDAQ: NKLA), which got some bad news about a prospective collaboration.