Shares of Tesla fell sharply after the company's debut in the prestigious index

Shares of Tesla fell sharply after the company's debut in the prestigious index

Shares of the American electric car manufacturer Tesla fell sharply after the company's debut in the prestigious S&P 500 index. They were dragged down from their original record by market fears of a rapidly spreading new strain of coronavirus in Britain. Shares of Tesla fell about 5% to $ 659.99 (€ 542.18) about half an hour after the markets opened. It was Tesla's shares that pulled the index down on the first day of the S&P 500. After the start of trading, the S&P 500 fell by about 1.2%. Tesla's entry into the prestigious index was announced in mid-November, and the company's shares jumped by more than 10% immediately. Since the announcement, they have grown by about 70% and since the beginning of the year the growth has been staggering about 700%. The company developed a chance for inclusion in the index already in the summer, when it announced the results for the 2nd quarter. It made a profit for the fourth quarter in a row, and that was what made her room for inclusion in the index. Subsequently, at the end of October, it announced an even higher profit for the third quarter.