S&P Dow Jones Indices Announces Implementation of Tesla's Addition to S&P 500
NEW YORK, Nov. 30, 2020 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") has determined it will add Tesla Inc. (NASD: TSLA) to the S&P 500 at its full float-adjusted market capitalization weight effective prior to the open of trading on Monday, December 21, 2020.
As announced on November 16, 2020, S&P DJI conducted a consultation with market participants regarding the implementation of the addition of Tesla to the S&P 500. During the consultation, which closed on November 20, 2020, S&P DJI received a variety of feedback, including implementation suggestions beyond those proposed in the consultation.
In its decision, S&P DJI considered the wide range of responses it received, as well as, among other factors, the expected liquidity of Tesla and the market's ability to accommodate significant trading volumes on this date. After the market close on Friday, December 11, pro-forma files will be distributed, and a press release will be published announcing which company Tesla will replace in the S&P 500.
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
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Company Codes: NASDAQ-NMS:TSLA, NYSE:SPGI
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