Tesla Shares see its worst daily loss since March

On Tuesday, Tesla Inc. shares slumped in U.S. pre-market trading after they missed out on being included in the S&P 500 Index.

In the worst one day loss since March, Tesla shares dropped 18 per cent. 

Michael Dean, an analyst with Bloomberg Intelligence, said, “There may be question marks about the sustainability of regulatory emission credit sales which are currently underpinning earnings, this may have influenced its failure to make it into the S&P 500.”

Credit Suisse analyst Dan Levy explained that Tesla not being included likely reflects the challenges in adding a firm that size to the index; however, Tesla is still expected to be added to the index.

Read more from the News Source HERE

a
close slider