Today the S&P 500 officially announced changes in the index due to the recent inclusion of Tesla (NASDAQ: TSLA). Tesla is set to join S&P 500 & 100, replacing Apartment Investment and Management Co.
With five profitable quarters, Tesla already met the requirements for inclusion into the S&P 500 after the Q3 2020 earnings report, which requires that a company’s last four quarters in summation are profitable, and that the previous quarter is profitable. November 16th, 2020, S&P 500 has officially announced Tesla will be included in the index.
November 30, S&P announced the Tesla addition to the S&P 500 prior to open December 21 at full float adjusted market cap weight in a single step.
The index announced today that Tesla will replace Apartment Investment and Management Co., and Tesla will also be added to the S&P 100, replacing Occidental Petroleum Corp. Meanwhile, Occidental Petroleum will remain in the S&P 500.
Apartment Income REIT Corp. will replace Dunkin' Brands Group Inc. in the S&P MidCap 400. Apartment Investment and Management is spinning off Apartment Income REIT in a transaction expected to be completed post close on Monday, December 14.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.