The pandemic year of 2020 was a surprising one for the stock market as the broad indexes crashed in March, only to roar back as unprecedented stimulus from the federal government and the Federal Reserve drove a tremendous amount of money into equities, even as the economy was reeling.
To gain entry to the S&P 500, a company’s “most recent quarter’s earnings and the sum of its trailing four consecutive quarters’ earnings must be positive” and it must also meet other requirements, according to S&P Global. Here’s the kicker: Wood wrote that as far as he could tell, “Tesla only generates profits at present by selling tax credits,” which are payments to Tesla by other auto manufacturers who make too few electric vehicles to satisfy regulators.
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