Investors lose $5 billion on Tesla's S&P entry
Tesla’s entry into the S&P 500 Index has cost investors benchmarked against blue-chip US stocks more than $45bn since December. The world’s leading electric vehicle maker was finally admitted to the S&P in 2020, and its stock which had skyrocketed 764 percent before admission, fell in the following six months and the stock it had replaced—Apartment Investment and Management–increased by 48 percent. This rebalance cost investors 41 basis points, according to Rob Arnott, chair of RA, which in actual terms translated to a huge sum as the S&P 500 is tracked by about $4.6trillion of capita...
Source: industryleadersmagazine.com
