Tesla’s stock will be added to the S&P 500 in a single step before the open on Dec. 21
Tesla will be added to the S&P 500 in a single step despite its more than $500 billion market capitalization, S&P Dow Jones Indices said on Monday, forgoing a possible phased approach that was considered to ease the impact of adding such a large company to the U.S. stock benchmark.
The stock will be added at its full float-adjusted market capitalization before the open of trading on Dec. 21, the index provider said. Float-adjusted means that only shares available to the public are considered when evaluating a company’s weighting. The company that Tesla will replace will be named on Dec. 11, according to a press release.
