For Tesla CEO Elon Musk, 2020 is the year: five consecutive quarters in the black pave the way for his company to be included in the prestigious American equity barometer.
Dhe American electric car manufacturer Tesla reaches another milestone with its entry into the S&P 500 stock market index. On Monday evening, the index operator S&P Dow Jones Indices announced the inclusion – next week, the papers of the e-car pioneer should start trading. 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 stock barometer because of its soaring this year. With a market value of nearly $ 387 billion, Tesla is the highest-traded automaker in the world. For comparison: the industry giants General Motors, Ford and Fiat Chrysler bring it together to around 125 billion dollars.
Many investors had actually expected the jump into the traditional stock index three months ago, when Tesla created an important prerequisite for it with four quarterly profits in a row. In October, the Musks group again delivered surprisingly strong results: The fifth consecutive quarter with black numbers should ultimately have paved the way into the S&P 500.