By Noel Randewich
(Reuters) - Shares of Tesla <TSLA.O> tumbled 7% in extended trade on Friday after the electric car maker was excluded from a group of companies being added to the S&P 500, among them Etsy, whose stock market value is less than a 20th of Tesla's.
The decision by S&P Dow Jones Indices is a blow to Tesla investors who widely expected the company to join the benchmark stock index after a blockbuster quarterly report in July cleared a major hurdle for its potential inclusion.
S&P Dow Jones Indices said in a statement it was adding online craft seller Etsy <ETSY.O>, semiconductor equipment maker Teradyne <TER.O> and pharmaceutical technology company Catalent <CTLT.N> to the S&P 500, effective Sept. 21, and removing H&R Block <HRB.N>, Coty <COTY.N> and Kohls <KSS.N>.
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