Tesla’s stock slips toward 3rd-straight loss as an S&P 500 debutant

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Shares of Tesla Inc. slipped 0.8% in premarket trading Wednesday, putting them on track to suffer a third-straight loss as S&P 500 index debutants. The electric vehicle market leader’s stock has lost 7.9% the past two sessions, after surging 11.6% in two days to Friday’s record close of $695.00 just before being officially added to the index. Taking a look back at another high-profile index inclusion, Apple Inc.’s stock rose 3.9% amid a 3-day win streak through March 18, 2015 (not to a record close), just prior to officially becoming a member of the Dow Jones Industrial Average , then fell a total of 2.0% the next two sessions as a Dow debutant until notching its first gain on March 23. Granted, entering the S&P 500 makes a much bigger investment impact than entering the Dow, as MarketWatch recently reported that more than $11 trillion is indexed to the S&P 500 while just a little over $30 billion in indexed to the Dow.
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