Tesla left off the S&P 500 sending it down as much as 20%
The electric-car makers' exclusion from the benchmark index was a surprise, as three considerably smaller companies made the cut
08 September 2020 - 17:37
Bengaluru — Tesla tumbled as much as 20% on Tuesday after its surprise exclusion from the S&P 500 index added to the broader sell-off in tech stocks, which have dominated Wall Street’s recovery from the coronavirus-driven crash earlier this year.
Wall Street analysts and investors widely expected Tesla to join the S&P 500 after the company posted its fourth consecutive profitable quarter in July, clearing a major hurdle for its potential inclusion in the benchmark stock index...
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