Shares of electric vehicle manufacturer Tesla fell more than 5% in the early stages of Monday’s session in which the company was released for the first time as part of the S&P 500 stock index, one of the most important in the United States. United.
Specifically, after 5.15pm peninsular hours, Tesla left 5.76% on the stock market, placing its shares at 654.07 dollars (about 535 euros). However, the titles of the American brand fell by more than 6.3% during the first steps of the day, to just over 651 dollars (533 euros).
All this on the day that the firm led by Elon Musk became part of the S&P 500, after accumulating a revaluation of its share price of more than 600% this year. As announced by S&P Global, Tesla enters the index coinciding with its quarterly rebalancing, and it does so in one go, although there was talk that, due to the size of the company, it could be done in two different days.
Tesla replaces Apartment Investment and Management, which leaves the index, as of Monday. In addition, the manufacturer has also become part of the S&P 100, replacing Occidental Petroleum.
With a market capitalization of more than 600,000 million dollars (more than 492,000 million euros), the American manufacturer is the largest company that has been added to the indicator and will be one of the most influential components, with a weight similar to the by Jhonson & Jhonson.
In 2020, Tesla shares have increased sevenfold in value, going from about $ 86 (€ 70.50) in January to more than $ 650 (€ 530) today.