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Tesla Excluded From S&P500, Stock Sinks

Video Credit: Wochit News
Published on September 8, 2020 - Duration: 00:27s

Tesla Excluded From S&P500, Stock Sinks

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.

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