Tesla is going S&P 500. This CNBC story in partnership with
Let’s hear it folks. For Wall Street’s most controversial stock and one of my favorites is about to go mainstream.
That’s because Tesla it also appears is on the verge of being a league of their own. For Tesla is joining the S&P 500. Dude I can’t even tell you how big this is.
it’s so so so a major accomplishment. Especially for Chief Executive Officer Elon Musk that will unleash a flood of new demand for Tesla motors. For the electric car maker’s shares have already surged 500% over the past year.
Higher-than-expected second-quarter vehicle deliveries, announced last week, have analysts increasingly confident the company will show a profit in its quarterly report on July 22. That would mark Tesla’s first cumulative four-quarter profit, a key hurdle to be added to the S&P 500.
I mean they are scaling up! As I’ve written before:
If it seems like there is more news about Tesla than any other car company, that’s only because it’s true. More new stuff swirls around the Land of Tesla every day than at most companies in a month — or a year! As the Model 3 nears its first public showing later this week, Tesla is making one move designed to further separate the Model S from its lower priced sibling. It is discontinuing the entry level Model S 75 with rear-wheel drive.
In conclusion and with a market capitalization of about $250 billion. Wow so wow. Because Tesla would be among the most valuable companies ever added to the S&P 500, larger than 95% of the index’s existing components. It would have a major impact on investment funds that track the index.