Tesla will be listed in the US stock exchange index S&P 500 in December. With a stock market value of some 390 billion dollars, it is the largest company ever to be added to the list.
The inclusion in the S&P 500 puts Tesla’s share in the portfolios of funds and followers of the index. In response to the news, the share of the world’s most valuable car company in the so-called forward trade in New York increased to 15 percent.
Due to the size of Tesla it is considered to add the share in two steps. S&P will publish more about this later.
The announcement was already in the air because Tesla makes a few quarters in a row, a condition for a place in the S&P 500. The maker of electric cars announced last month that for the fifth time in a row it has closed a quarter with profit. In the three months to September, the company put a profit of $ 331 million in the books. With the profit rate, the company of founder and CEO Elon Musk managed to exceed the expectations of analysts. Tesla did the same with his sales of nearly 8.8 billion dollars, where 6.3 billion dollars was raised a year earlier.