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

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S&P Dow Jones Indices announced Friday that Tesla will replace Apartment Investment and Management in the S&P 500.

The electric vehicle company will join the benchmark index before the opening bell on Dec. 21.Tesla CEO Elon Musk talks to media as he arrives to visit the construction site of the future US electric car giant Tesla, on September 03, 2020 in Gruenheide near Berlin.will replace Apartment Investment and Management Co. in the S&P 500 when the electric vehicle company joins the index before trading begins on Dec. 21, S&P Dow Jones Indices said Friday.

"In its decision, S&P DJI considered the wide range of responses it received, as well as, among other factors, the expected liquidity of Tesla and the market's ability to accommodate significant trading volumes on this date," the index provider said. Tesla's addition to the S&P 500 will be based on the closing prices on Friday Dec.

Fund managers that must buy the index will try to buy Tesla as near the Dec. 18 closing price as possible. "It's probably going to be one of the biggest market on close buy orders of all time," said Peter Boockvar, chief investment strategist at Bleakley Advisory Group.for exclusive insights and analysis, and live business day programming from around the world.

 

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OpenOutcrier Well with NickatFP not paying his rent it's no wonder...

OpenOutcrier This makes sense as most will be living in their cars pretty soon....

This is crap. He gets $886 million from the government and does this with it. He should be helping millions of people. It is easier for a camel to get thru s needle than a rich man to get into heaven.

Short FB

Jeff Bezos, Elon Musk, Bernard Arnault, Bill Gates & Mark Zuckerberg combined have more money than the poorest 4,000,000,000 (Billion) people in this planet!

Big change

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