Tesla Added to S&P 500
Tesla will be added to the S&P 500 on December 21st, 2020, according to a press release from S&P Global.
Tesla shares are up 9% after-hours after a relatively stagnant several weeks for the stock. Many investors voiced their displeasure with S&P Global for declining to include Tesla in the S&P 500 earlier this year when it became eligible.
Tesla skeptics have contended that S&P 500 inclusion was necessity for Tesla to keep its stock price inflated, since inclusion means all sorts of new buyers that now must hold Tesla stock.https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20201116-1258362/1258362_tdec215addconsult.pdf?force_download=true