Hyperdrive
Tesla Sends S&P 500 Crowd on a Wild Ride of Surges and Crashes
- Stock on a rollercoaster ride even after joining the S&P Index
- Shares’ 29% gain in the past 12 months surpasses broad market
A vehicle at a Tesla Supercharger station in Firebaugh, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
There was a sense among Wall Street types a year ago that Tesla Inc.’s entrance into the S&P 500 Index would calm the stock. Sure, it would still have sporadic moments of Elon Musk-driven swings -- up 5% Tuesday, down 5% Wednesday -- but overall, it would behave more like a proper, staid member of the blue-blooded community it was joining.
They were wrong.