Tesla will join S&P 500 in December 2020

 

Tesla will join the S&P 500 in December after

being snubbed earlier this year



  • Tesla will join the S&P 500 on December 21, S&P Dow Jones Indices announced Monday
  • With a market cap of nearly $400 billion, Tesla is set to join as one of the 10 most valuable companies in the index.
  • S&P Global did not say which company Tesla will replace later this year.

Tesla will be added to the S&P 500 later this year, S&P Dow Jones Indices announced Monday.

Tesla will join the exclusive club of companies prior to the open of trading on Monday, December 21. Shares of the electric-vehicle manufacturer jumped more than 13% on the news in after-hours trading.

The S&P 500, or simply the S&P, is a stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices.
 It is chosen by the S&P 500 Index Committee, which rebalances the group each quarter. In September, the online marketplace Etsy, robotics company Teradyne, and pharmaceutical developer Catalent joined the index, while Tesla was left out, even though it met the standards required to be added.

The S&P 500, an index of 500 large US companies, is seen as one of the most important gauges of the success of America's largest publicly-traded firms. It is chosen by the S&P 500 Index Committee, which rebalances the group each quarter. In September, the online marketplace Etsy, robotics company Teradyne, and pharmaceutical developer Catalent joined the index, while Tesla was left out, even though it met the standards required to be added.

S&P Global did not specify which of the current 500 firms Tesla would replace, saying that it would make that announcement in a separate release

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