Home / Business / Tesla shares rise on hopes stock will join the S & P 500 benchmark

Tesla shares rise on hopes stock will join the S & P 500 benchmark



Tesla shares rose after Macquarie estimated the electric automaker may qualify to join the benchmark S & P 500 index as early as the second quarter of 2019.

To be eligible for inclusion, Standard & Poor's requires companies to be profitable for four consecutive quarters on a GAAP basis.

More than $ 3 trillion in funds are tracking the S & P 500 directly via index funds, according to Standard & Poor's website.

Tesla shares were up more than 1

percent in premarket trading following the note.


Source link