Tesla to replace Apartment Investment and Management in the S&P 500 Index

  • 📰 Reuters
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Apartment Investment and Management Co will be removed from the S&P 500 as of Dec. 21 to make room for the inclusion of Tesla Inc, S&P Dow Jones Indices said on Friday.

FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors' showroom in Manhattan's Meatpacking District in New York City, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo

The company has a market value of about $6 billion and its stock is down 21% this year. By contrast, Tesla’s stock market value stands at around $600 billion, and its shares are up 600% year-to-date. Adding Elon Musk’s Tesla to Wall Street’s most followed benchmark will force index funds to buy over $70 billion worth of its shares, while simultaneously selling shares of other S&P 500 constituents.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

SeditiousGOP ban them from public service SeditiousSeventeen Donald Trump can not hijack our government & be a dictator TrumpSedition wutings these Republicans should be prosecuted for Sedition ACT Transition46 SpeakerPelosi GOPBetrayedAmerica

You mean ElonMusk(LoneSkum) sex trafficking and drug running!Apart-men-T(criminals) And Man-age-men-T=AIM for his criminals! Far more time for premeditated serial murderers and premeditated TreasonousTerrorism!

So do you think $TSLA or $AIV will have a superior total return over ensuing 3, 5, 10 years, starting Jan 1, 2021?

I remember all the 'experts' laughing at Tesla. 'It has no chance' they told us. experts

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines