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Index overhang

Jason Goepfert
2020-12-22

We saw in November that when the largest market cap stocks finally got added to the S&P 500 index, there was often an overhang that began immediately and lasted for months.

Even so, Tesla's first-day drops ranks among the largest of all the ones we looked at. Below, we can see the 4 others that suffered at least a 5% decline on their first day in the index. Not great company, if we're willing to read into this.

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