FILE PHOTO: A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson
(Reuters) - Shares of Tesla Inc rose to a record high on Friday in a frantic day of trading as investors geared up for the electric carmaker's much anticipated entrance into the benchmark S&P 500 index.
The company headed by billionaire Elon Musk on Monday will become the most valuable ever admitted to Wall Street's main benchmark, accounting for over 1% of the index. The shares have surged some 70% since mid-November, when its debut in the S&P 500 was announced, and have soared 700% so far in 2020.
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