After a wild run that saw its share price increase more than fivefold since the start of the year, Tesla continues to spiral back down to earth.
Elon Musk’s electric car company closed out the trading day more than 20% below where it opened on Tuesday morning, following a three-day weekend during which investors had plenty of time to digest the sobering news that Tesla would not be added to the S&P 500 index.
On Friday, S&P Dow Jones Indices announced instead that three companies—sales platform Etsy, test equipment maker Teradyne, and pharmaceutical firm Catalent—would be added to the 500 that make up the S&P index.
Which companies are getting bumped? H&R Block, Coty, and Kohl’s.
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