Stocks

Tesla will be added to the benchmark S&P 500 index Dec 21

PTI New York | Updated on November 17, 2020 Published on November 17, 2020

Tesla will be added to the S&P 500 index on December 21. Based on its market value Monday, the electric car maker would be one of the top 10 companies in the benchmark index upon entry.

S&P Dow Jones Indices announced after the closing bell. Tesla shares jumped nearly 11 per cent in after-hours trading.

 

Tesla became eligible to join the S&P 500 after posting its fourth consecutive profit in the second quarter of this year. However, it was not selected for inclusion in the index in September.

Tesla shares have soared 387.8 per cent this year as the company is finally making money consistently and continues to hit milestones for deliveries of its vehicles.

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Published on November 17, 2020
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