Tesla to join S&P 500 in December, spark epic index fund trade

Topics Tesla | S&P 500


By Noel Randewich (Reuters) - 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 $51 billion (£39 billion) trade by index funds adjusting their holdings. S&P Dow Jones Indices announced that the company would join the S&P 500 index <.

SPX> prior to the opening of trading on Dec. 21, potentially in two tranches making it easier for investment funds to digest. "(Tesla) will be one of the largest.....

This article is no longer available in our repository.

There could be multiple reasons for this.