Tesla Excluded From S&P500, Stock Sinks
Wochit
2020-09-08
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On Tuesday, Tesla stock tumbled as much as 13% in pre-market trading.
The decline follows the surprise exclusion of Tesla from the S&P 500.
An important shareholder cutting its stake, and its announcement of a $5 billion share sale.
Tesla met the criteria to join the S&P 500. But the managers only added Etsy, Teradyne, and Catalent.
Other tech stocks such as Apple, Microsoft, and Facebook fell more than 2% on Tuesday as well.
The decline follows the surprise exclusion of Tesla from the S&P 500.
An important shareholder cutting its stake, and its announcement of a $5 billion share sale.
Tesla met the criteria to join the S&P 500. But the managers only added Etsy, Teradyne, and Catalent.
Other tech stocks such as Apple, Microsoft, and Facebook fell more than 2% on Tuesday as well.
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