exclusion from the S&P 500 index on Friday was a surprise to many given that the mega-cap electric vehicle manufacturer ticked off all the eligibility inclusion requirements.
But the decision of S&P Dow Jones Indices' index committee to exclude Tesla from the index despite it being eligible for inclusion was a "brave" decision, DataTrek co-founder Nicholas Colas said in a note on Wednesday. Tesla traded at a trailing 12-month price-earnings multiple of 913x on Wednesday, according to data from YCharts.com. Meanwhile, the S&P 500 traded at a trailing 12-month price-earnings multiple of 21.7x, according to JPMorgan.
Elon vs. The Alligators (Part II)
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