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5 Top Stock Decliners for Monday - Tesla, Live Nation, Peloton

Tesla, Live Nation, Peloton, Nike and Zix are five stocks that fell on Monday.

Stocks rose Monday as investors awaited data on key economic indicators including the U.S. consumer price index to be released on Wednesday.

Here are some of the companies that took a hit on Monday.

1. Tesla | Down 4.8%

Shares of Tesla  (TSLA) - Get Tesla Inc Report fell under pressure Monday after founder and chief executive Elon Musk's Twitter poll received majority support on proposal to sell his 10% stake in the electric-car maker.

Musk on Saturday tweeted that, “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?”

Out of 3.5 million Twitter TWTR users who responded, 58% said they’d support a theoretical sale. 

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2. Live Nation | Down 5.4%

Live Nation  (LYV) - Get Live Nation Entertainment, Inc. Report stock traded lower Monday after the entertainment company was among the organizers of the Astroworld Festival, a music event in Houston, where eight people were killed in a stampede on Saturday.

A concert attendee has reportedly filed a lawsuit against Live Nation, rapper, songwriter and singer Travis Scott and festival production company ScoreMore.

3. Peloton | Down 7.9%

Peloton  (PTON) - Get Peloton Interactive, Inc. Class A Report shares extended their decline from last week after falling 35% on Friday since the fitness equipment maker slashed its 2022 sales forecast amid a slump in post-pandemic demand.

4. Nike | Down 3.2%

Shares of sports retailer Nike  (NKE) - Get NIKE, Inc. Class B Report struggled Monday. There was no company specific news related to the decline. As part of its fiscal first quarter earnings ended Sept. 23 the company lowered its full-year guidance due to supply chain issues that hit its factories in Vietnam and Indonesia.

5. Zix | Down 2.6%

Shares of software firm Zix  (ZIXI) - Get Zix Corporation Report traded lower Monday after the company said it had entered a definitive agreement to be acquired by Open Text  (OTEX) - Get Open Text Corporation Report for $8.50 a share in an all cash deal.