The company that Tesla is to replace in the index will be named later, the index provider said. Tesla shares rose as much as 12% to $456 in extended New York trading on the news. After analyzing the index just last week, “it was just kind of mind blowing that Tesla still wasn’t in the S&P," Gerber said in a telephone interview. In mid-September, Tesla reported a fifth consecutive quarterly profit, quieting critics who questioned its ability to make money. Global AspirationsMusk’s latest mission is to make Tesla more of a global player in markets such as Asia and Europe.

Source: Mint November 16, 2020 23:15 UTC