Tesla bouncing back in premarket as electric-vehicle stocks rally
Shares of Tesla Inc.
bounced 6.2% in premarket trading Wednesday, in the aftermath of their record one-day selloff in the previous session. The stock had plunged 21.1% on Tuesday, after S&P DJ Indices shocked investors by not including the electric vehicle industry leader to the benchmark S&P 500 index SPX, -2.77%, to close 33.7% below the Aug. 31 record close of $498.32. Tuesday's rally was also part of a surge in the shares of other EV makers, and a broader market bounce. S&P 500 futures ES00, +1.
advanced 2.5%, Workhorse Group Inc. climbed 6.0%, XPeng Inc. gained 3.5% and Li Auto Inc. LI, -6.17% tacked on 2.9%.
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