Tesla Plunges 21%, Concept Stocks are Mixed

Tesla was not included in the S&P 500 index, and its share price plunged 17% in early trading on the 8th. 

Affected by the fact that Tesla was not selected as a constituent of the S&P 500 Index, its stock price fell 21.06% yesterday (8), the largest one-day drop since its listing, and its market value dropped by approximately US$82 billion. .

This year, Tesla’s share price has benefited from the continued increase in electric vehicle sales, segmentation and other themes, and the stock price has moved sharply. However, it fell sharply yesterday to US$330.21, which is about 34% lower than the recent high (498.32).

Despite the interference of the new crown pneumonia epidemic in the first half of the year, Tesla still submitted an excellent report card. Not only did the second quarter profit far exceed expectations, the company also achieved profit for the fourth consecutive quarter. Its Model 3 continued to dominate the global electric vehicle market in the first half of the year, and its position in the industry is far ahead. With the increase in the production capacity of the Shanghai plant and the expansion of the North American plant, it is optimistic that the performance of the second half of this year will have significant growth, which is also expected to drive the performance of related concept stocks .

Editor’s note: This article is for reference only and does not constitute an offer, solicitation or invitation, inducement, any representation regardless of type or form, or make any suggestions and recommendations. Readers should use their independent thinking ability to make their own investment decisions If any losses are incurred due to the relevant recommendations, it has nothing to do with istanbulpost.com.tr , the editor and the author.

Reviewer overview

Tesla Plunges 21%, Concept Stocks are Mixed - /10

Summary

Tesla was not included in the S&P 500 index, and its share price plunged 17% in early trading on the 8th. 

0 Bad!