Tesla will enter the S&P 500 index by the end of this year
S&P Dow Jones Indices, which manages a number of stock indices, including the S&P 500 and Dow Jones, has decided to include Tesla, an electric vehicle manufacturer, in the S&P 500, which unites the largest US public companies.
The main criteria for listing public companies in this index are the status of an American legal entity, market capitalization of at least $ 8.2 billion (Tesla has it about $ 380 billion), "high liquidity of shares", free market circulation of at least 50% shares, as well as the company's profitability for at least the last four quarters.
Elon Musk's company, which had a problem with profitability for a long time, managed to complete the last five quarters with a profit. Moreover, the third quarter of this year became a record for the manufacturer in terms of revenue and profit.
Tesla shares will start counting in the index on December 21. Who exactly Elon Musk's company will replace in the index will be announced later. Immediately following the S&P Dow Jones Indices announcement, the company's over-the-counter quotes jumped more than 14%.