Tesla will join the S&P 500 on December 21, S&P Dow Jones Indices announced Monday
With a market cap of nearly $400 billion, Tesla is set to join as one of the 10 most valuable companies in the index. Visit Business Insider's homepage for more storiesTesla will join the exclusive club of companies prior to the open of trading on Monday, December 21.jumped more than 13% on the news in after-hours trading.
The S&P 500, an index of 500 large US companies, is seen as one of the most important gauges of the success of America's largest publicly-traded firms. It is chosen by the S&P 500 Index Committee, which rebalances the group each quarter. In September, the online marketplace Etsy, robotics company Teradyne, and pharmaceutical developer Catalent joined the index, while Tesla was left out, even though it met the standards required to be added.
Tesla joins the index as the world's most valuable automaker, with a market cap of nearly $400 billion. That places it firmly in the top 10 most valuable firms in the index, alongside Goliaths like Apple, Amazon, and Berkshire Hathaway. Even as the pandemic dealt a major blow to the global auto industry, disrupting manufacturing and supply chains worldwide, Tesla has had one of its best years to date. Last month, the EV maker
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$TSLA finally made it. See all S&P 500 changes from 2003 to 2016.