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
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.
