Tesla Inc. shares slid on Sept. 8 after the electric-vehicle maker missed out on being included in the S&P 500 Index, taking investors who had bet on its entry to the benchmark by surprise.
Tesla shares fell as much as 20% on Sept. 8, the biggest one-day loss since early February. Declines started premarket and worsened as General Motors Co. said it would take a $2 billion equity stake in Nikola Corp. and partner with the fledgling truck maker to engineer and manufacture its Badger pickup. The news lifted Nikola shares by 46% while GM rose 8%.
