Tesla unable to join the exclusive club of companies in the S&P 500 Index while Etsy made it

In an unexpected proceed onward Friday evening, S&P Dow Jones Indices reported it would include Etsy to its key index of huge US organizations later in September. Teradyne and Catalent will likewise join the index. Be that as it may, investors were immediately disillusioned when they saw a key organization was observably absent. S&P Dow Jones Indices avoided including Tesla, the most important automaker on earth, to the index.

Tesla has a market cap of over $400 billion. Investors had been holding back for weeks to check whether the automaker would join the S&P 500, yet after the news broke, Tesla stock fell over 7% in after-hours trading on the Friday. Basically Tesla not getting into the S&P 500 will be a head scratcher to the bulls that saw this as practically a lock given all the boundaries met.