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Tesla shares fall more than 3% as it enters the S&P 500 with 1.69% weighting, fifth largest

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Elon Musk, chief executive officer of Tesla Motors

David Paul Morris | Bloomberg | Getty Images

Tesla‘s S&P 500 inclusion will be officially completed at the open of trading Monday and its debut is not looking so good.

The shares shed more than 4% in premarket trading Monday as investors who bought the stock in anticipation of its entry into the benchmark cashed in.

The electric car maker will have a 1.69% weighting in the index, the fifth largest. It will be the sixth biggest company in the large-cap benchmark when counting the share classes of Alphabet together.

The historic addition to the S&P 500 put a bow on Tesla’s outstanding 2020. The Elon Musk-led company has turned in five…



Source cnbc.com

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