Tesla is added to the S&P 500
After a huge run in its share price, Tesla joined the benchmark US stock index, one of the largest additions ever.
Archive entry. This article looks back at an event from December 21, 2020. It was drafted with AI assistance from public records and is being fact-checked. See our About page.
On December 21, 2020, Tesla was added to the S&P 500 index. The company had been eligible for some time but was only admitted after it posted several consecutive profitable quarters.
Tesla's share price had risen enormously during 2020. Because the index is tracked by many funds, its addition forced them to buy the stock, and it was widely described as one of the largest additions to the index by market value.
It was a milestone for a company that had been unprofitable for most of its first decade.
