(BFW) Tesla Shares Drop 10% After Getting Cold Shoulder From S&P (1)
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Tesla Shares Drop 10% After Getting Cold Shoulder From S&P (1)
2020-09-08 08:42:02.249 GMT
By Beth Mellor
(Bloomberg) -- Tesla shares slump as much as ~10% in U.S.
pre-market trading, before paring drop to 9.4%.
* The electric-vehicle maker was widely expected on Friday to be
added to the S&P 500 Index, but S&P Dow Jones Indices, which
oversees the gauge, instead added online retailer Etsy,
semiconductor-equipment manufacturer Teradyne and medical
technology firm Catalent; U.S. markets were closed Monday for a
public holiday
** Etsy is up 3.7% pre-market
* The decision not to include Tesla -- at least not for now --
may have rested on questions about the automaker’s
“profitability metrics” and murky full-year forecast, Dan Ives,
a Wedbush Securities analyst, wrote in a research note Friday
* Tesla shares have gained almost 400% this year and it posted a
fourth consecutive quarterly profit in July, clearing the last
major hurdle for consideration by S&P Dow Jones Indices
* NOTE: The stock fell 5.5% last week amid a broader rout of
tech stocks
______________
Tesla Shares Drop 10% After Getting Cold Shoulder From S&P (1)
2020-09-08 08:42:02.249 GMT
By Beth Mellor
(Bloomberg) -- Tesla shares slump as much as ~10% in U.S.
pre-market trading, before paring drop to 9.4%.
* The electric-vehicle maker was widely expected on Friday to be
added to the S&P 500 Index, but S&P Dow Jones Indices, which
oversees the gauge, instead added online retailer Etsy,
semiconductor-equipment manufacturer Teradyne and medical
technology firm Catalent; U.S. markets were closed Monday for a
public holiday
** Etsy is up 3.7% pre-market
* The decision not to include Tesla -- at least not for now --
may have rested on questions about the automaker’s
“profitability metrics” and murky full-year forecast, Dan Ives,
a Wedbush Securities analyst, wrote in a research note Friday
* Tesla shares have gained almost 400% this year and it posted a
fourth consecutive quarterly profit in July, clearing the last
major hurdle for consideration by S&P Dow Jones Indices
* NOTE: The stock fell 5.5% last week amid a broader rout of
tech stocks
No panic ... reduce exposure is right to do since last couple of day
Glove 🧤, 🥊.... Kena sell down due to vaccine 💉 theme play is come in