Tesla stock tanks after the automaker's surprise exclusion from the S&P 500 - Business Insider

Tesla stock tanks after the automaker's surprise exclusion from the S&P 500

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.

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