Tesla Inc. shares fell 4.5% in premarket trading on Monday as the electric vehicle maker marks its trading debut on the S&P 500 Index.Its shares have catapulted 731% this year in anticipation of the historic inclusion, making it the biggest company ever to be added to the benchmark.
The EV pioneer will also be joining the S&P 100, replacing oil and gas firm Occidental Petroleum Corp., which fell 7.5% premarket.Also Read | Inside the rumble in India’s coding jungle“Welcome to the S&P 500 Club," said Wedbush analyst Daniel Ives in a report.
The index addition marks a “defining chapter of success" for the company he said.Futures contracts on the S&P 500 were trading down 0.5%, following European stocks lower after several major countries moved.