Tesla CEO Elon Musk is extremely unhappy that the EV company was eliminated from the S&P 500 ESG Index on Wednesday, voicing his concerns on Twitter.
The electric automaker was taken off the ESG index by S&P Dow Jones Indices due to Tesla's ongoing issues of racial discrimination claims from employees and how it has dealt with a National Highway Traffic Safety Administration (NHTSA), a government investigation after several crashes were connected to its autopilot vehicles.
The changes are retroactive: they are effective May 2 and a May 17 S&P Dow Jones Indices described the rationale. This is the fourth annual rebalance by the index company.
“Tesla was ineligible for index inclusion due to its low S&P DJI ESG Score,3 which fell in the bottom 25% of its global GICS industry group peers,” according to Margaret Dorn, senior director, head of ESG Indices, S&P Dow Jones Indices.
Do you think $TSLA will break below $700 as ESG funds sell the stock?
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