Tesla's Stock Soars 11% Following Inclusion in S&P 500
CEO Musk Enters 3rd Place in Wealth Rankings
[Asia Economy New York=Correspondent Baek Jong-min] Tesla's stock price surged 11% on the news of its inclusion in the S&P 500 index.
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As of 10 a.m. local time on the 17th, Tesla's stock is trading at $453, up 11% from the previous day. Tesla's stock price also jumped nearly 13% in pre-market trading.
On the previous day, S&P Global announced that Tesla would be included in the S&P 500 index starting from the 21st of next month. Tesla met the conditions for inclusion by recording net profits for five consecutive quarters. Although it failed to be included last September, this time it successfully entered the index.
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The British daily The Guardian reported that due to the stock price surge, Elon Musk, Tesla's CEO, surpassed Mark Zuckerberg, Facebook's CEO, to rise to 3rd place in the global billionaire rankings compiled by Bloomberg News.
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