Tesla is Joining the S and P 500 features club

After several tries, Tesla is finally joining the S&P 500 and this may mean a lot to the company and the investors who believe in the electric car maker (Tesla).  Joining the SP 500 is a big deal for Tesla (TSLA), they have tried to be included a few times without success, but now, they have the greenlight.  

The S&P 500 Dow Jones sector announced on Monday that Tesla will be part of the S&P 500 starting Monday, December 21, 2020.

According to CNBC, Tesla’s Monday closing price of $408.09 per share puts it on the list of 10 most valuable companies.   This means the Tesla investor clans will clamor on the stocks like they usually do as it continues to go higher and higher.

The news broke after the trading hours on Monday, November 16, 2020, and the stock was up by 13% after-hours.

A lot of Tesla lovers have been waiting for Tesla to be included in the SP 500 since it passed the minimum requirement of $8.2 billion. However, the S&P 500 committee held off for a long time for Tesla to meet another requirement before they can consider it to be eligible to join the S&P 500 club.

It now official, the SP 500 committee has agreed to allow Tesla to join the club, we may see some upgrades of downgrades from analysts in the following days as many firms will start given their opinions on what’s next for Tesla.

Tesla’s market cap is $386 Billion with 52 weeks high of $502. The stock’s 52 weeks low price is $65.

What is S and P 500 features?

For people who are wondering about the significance of Tesla joining the S&P 500 companies; it is a big deal because the S&P500 feature is the index that tracks the 500 Large-cap US companies. The index reports the risk and returns of the biggest companies that are listed on the American stock exchange. Also, analysts and investment trackers use it as a measuring stick for all other investments.  

The stock chart of the SP 500 feature live tracks the performance of the SP 500 stocks as a total package. As of today, November 16, 2020, the S&P 500 feature live number is $3,626.91, it's up + $41.67 for the day.