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News Story Source: https://www.zerohedge.com by Tyler Durden
TSLA shares are surging over 8% higher after hours following a report from S&P that the carmaker will be included in the S&P 500 index…
Tesla Inc. (NASD:TSLA) will be added to the S&P 500 effective prior to the open of trading on Monday, December 21 to coincide with the December quarterly rebalance.
Due to the large size of the addition, S&P Dow Jones Indices is seeking feedback through a consultation to the investment community to determine if Tesla should be added all at once on the rebalance effective date or in two separate tranches ending on the rebalance effective date.
Tesla will replace a S&P 500 company to be named in a separate press release closer to the rebalance effective date.
We do note that TSLA shares are well below their pre-inclusion levels from late-August…
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