The decline follows the surprise exclusion of Elon Musk's electric-car maker from the S&P 500, a key shareholder cutting its stake, and its announcement of a $5 billion share sale.
Tesla met the criteria to join the benchmark index last quarter, but S&P 500 managers only added Etsy, Teradyne, and Catalent.
Source: News Formal (newsformal.com)
...*low battery light*
Tesla was not 'excluded' at all. What happened on Friday was just a reshuffle of companies already in S&P indexes and other changes could come. Furthermore, S&P Global already upgraded Tesla and wrote a glowing review of their future prospects:
He and his company are overrated. He had burned up Billions of his own and investors cash.
I’m not sure it was a surprise.... Sketchy accounting, fake profits, 1000x earnings, blatant bubble stock with a CEO that’s already been fined once for stock price manipulation.....
Every now and then either owner or comapany, do something which hit the market below the belt, making wipe off huge monies
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