Making an entrance: A file picture showing Musk speaking during a delivery event for Tesla China-made Model 3 in Shanghai. With a stock market value of over US$400bil, Tesla will be among the most valuable companies ever added. — Reuters
NEW YORK: Tesla Inc is set to join the S&P 500 in December, a major win for chief executive Elon Musk that boosted the electric car maker’s shares 14% on Monday in anticipation of a US$51bil trade by index funds adjusting their holdings.
S&P Dow Jones Indices announced that the company would join the S&P 500 index prior to the opening of trading on Dec 21, potentially in two tranches making it easier for investment funds to digest.
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