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November 16, 2020 at 11:27 PM
Tesla is set to join the S&P 500 next month, according to S&P Dow Jones Indices.
The index provider expects the electric carmaker to account for about 1%, or $51 billion, of the S&P 500′s total market capitalization.
Due to size of Tesla’s inclusion, S&P Dow Jones said it is seeking feedback from the investment community to determine if Tesla shares should be added all at once on the index’s rebalancing date of Dec. 21 or in two stages (or tranches) on Dec.14 and Dec. 21.
Comments are being accepted on both the schedule and size of the tranches through Friday. Results of the survey will be made public on Nov. 30.
Tesla will replace a S&P 500 company “to be named … closer to the rebalance effective date,” the index provider said.
