The electric-vehicle maker’s shares on the NASDAQ jumped in early trading a little more than 13 per cent to a high of US$462.00 after S&P Dow Jones Indices announced it would add Tesla to the S&P 500 before the start of trading on Dec. 21. (The Logic)
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The electric-vehicle maker’s shares on the NASDAQ jumped in early trading a little more than 13 per cent to a high of US$462.00 after S&P Dow Jones Indices announced it would add Tesla to the S&P 500 before the start of trading on Dec. 21. (The Logic)
Talking point: The company’s shares closed up 8.21 per cent, or US$33.52, at US$441.61. Tesla shares will be added to the consumer discretionary sector and will replace a yet-to-be-announced company, according to a Monday press release from S&P Dow Jones Indices. It projects Tesla’s shares will make up about 1.01 per cent of the S&P 500. It is holding a consultation with the investment community to decide if it should add Tesla’s shares all at the same time or in two separate tranches. It plans to announce the results of the consultation on November 30. Meanwhile, the company joined others to form a trade group to lobby for 100 per cent electric-vehicle adoption by 2030.
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