Tuesday, November 17, 2020
It’s working at Tesla: strong quarterly figures in a row and huge stock market values drive the automaker to the prestigious S&P 500 stock market index. Surprisingly, it’s not surprising, but the shares of the group make a huge profit after the stock market.
U.S. electric car maker Tesla has reached another milestone with its inclusion in the S&P 500 stock market index. On Monday evening (local time), the S&P Dow Jones Indices index operator announced its entry after the market closed. The U.S. company will join the popular index before the market opens on December 21, the S&P Dow Jones Indices reported. Tesla shares reacted after a few hours with a jump of more than ten percent.
Billionaire tech company Elon Musk has long been a candidate for the prestigious U.S. capital barometer as it has risen this year. Observers see the move as a great success for CEO Musk. With a market capitalization of $ 380 billion, Tesla is one of the most valuable companies on Wall Street – and the highest traded automotive company in the world. For comparison: General Motors, Ford and Fiat Chrysler sector giants earn about $ 125 billion.
In fact, many investors had expected to jump to the regular stock index nearly three months earlier, when Tesla presented surprisingly strong quarterly figures, making it an important prerequisite for entering the S&P 500 with four gains in three months. But Tesla’s name was missing in the changes announced in September. . The company’s shares plunged into the basement in no time. In October, the Musk team achieved amazing results again; the fifth consecutive quarter in black was finally to pave the way for the S&P 500.