Tesla Inc tumbles 6.5% from record high in S&P 500 debut
Article content Tesla jumped 6 per cent on Friday in frantic trading ahead of its S&P 500 entry. Tesla’s addition to the S&P 500 led index-tracking funds to buy US$90 billion of shares by the end of Friday so their portfolios reflected the index, according to S&P Dow Jones Indices’ analyst Howard Silverblatt. The change was effective prior to the open of trading on Monday, and Tesla is replacing Apartment Investment and Management Co. Actively managed funds that benchmark their performance ...
Source: windsorstar.com