Keep an eye on shares of Tesla (TSLA).
Over the last few days, the EV maker fell from a high of $502 to $450 after being snubbed by the S&P 500. Even after posting its fourth consecutive quarter of profitability, Tesla was left out of the index.
“Unclear why [Tesla] was not included in the recent rebalancing cycle, though we do think the stock will be eventually added to the S&P 500, having fulfilled all inclusion criteria,” Baird analyst Ben Kallo said, as quoted by MarketWatch.
Already a member? Login below, or click here to register now for free.