- Title: Tesla could soon be added to the S&P 500 index, say analysts
- Date: 9th July 2020
- Summary: HANAM, SOUTH KOREA (RECENT - JULY 6, 2020) (REUTERS) EXTERIOR OF TESLA STORE CUSTOMERS IN FACE MASKS SPEAKING WITH STAFF VARIOUS OF TESLA CARS PARKED AT SUPERCHARGERS IN CAR PARK SEOUL, SOUTH KOREA (JULY 3, 2020) (REUTERS) TESLA SUPER CHARGER STATION CAR ARRIVING AT TESLA SUPER CHARGER STATION MAN CONNECTING CHARGING CABLE TO CAR TESLA LOGO BLINKING CHARGING CABLE CONNECTED TO CAR
- Embargoed: 23rd July 2020 15:49
- Keywords: Elon Musk S&P 500 index Tesla autos electric most valuable car company vehicle
- Location: BUFFALO + NEW YORK, UNITED STATES, SEOUL + HANAM, SOUTH KOREA, UNKNOWN LOCATIONS
- City: BUFFALO + NEW YORK, UNITED STATES, SEOUL + HANAM, SOUTH KOREA, UNKNOWN LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA002CM39MBR
- Aspect Ratio: 16:9
- Story Text:Tesla could soon be added to the S&P 500 index, said analysts.
The company's solid delivery numbers heightened expectations of a profitable second quarter, which Tesla will report on July 22.
If it indeed comes in positive, it would be Tesla's four consecutive profitable quarter, a first for the company, and a key hurdle in a process to be added to the S&P 500 index.
On July 1st, Tesla became the world's most valuable car company by market cap, surpassing Toyota Motors.
Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating its market capitalization to $259 billion.
If Tesla is included in the S&P 500 index, it could gain access to extra investments, said analysts.
It would also join a group of other largest, publicly traded companies in the U.S. represented in the prestigious and most widely quoted S&P 500 index.
(Production: Catherine Koppel & Aleksandra Michalska)
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