FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy NicholsonShares jumped 6.88per cent a day after falling more than 21per cent as the company was passed over for inclusion in the benchmark S&P 500 index. The decline on Tuesday chopped off about US$80 billion in Tesla's market value, or more than the combined value of fellow automakers General Motors and Ford Motor .
S&P late Friday announced it would include online craft seller Etsy Inc , semiconductor equipment maker Teradyne Inc and pharmaceutical technology company Catalent Inc to the S&P 500 instead. Tuesday's decline pushed the stock down to a closing level of US$330.21, just above its 50-day moving average of US$329.63, a key technical support level.
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