It's running at Tesla: Strong quarterly figures in a row and a huge stock market value lead the carmaker into the renowned S&P 500 stock market index. Surprisingly, that doesn't come as a surprise, the shares of the group nevertheless gain tremendously after the hours.
The US electric car manufacturer Tesla has reached another milestone with its entry into the S&P 500 stock market index. On Monday evening (local time), the index operator S&P Dow Jones Indices announced the inclusion after the market closed. The US company will join the prestigious index before the market opens on December 21, the S&P Dow Jones Indices said. Tesla's shares reacted after the hours with a price jump of over ten percent.
Tech billionaire Elon Musk's company has long been a candidate for the prestigious US equity barometer because of its soaring this year. The move is seen by observers as a significant 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 automaker in the world. For comparison: the industry giants General Motors, Ford and Fiat Chrysler bring it to a good 125 billion dollars – together.
Actually, many investors had already expected the jump into the traditional stock index three months ago, when Tesla presented surprisingly strong quarterly figures and with four quarterly profits an important prerequisite for inclusion in the S&P 500.But Tesla's name was missing from the changes announced in September . The company's shares plunged into the basement for a short time. In October, Musk's group again delivered surprisingly strong results – the fifth consecutive quarter in the black should ultimately have paved the way into the S&P 500.
. (tagsToTranslate) Economy (t) Tesla Motors (t) Elon Musk (t) Dow Jones