Tesla jumps 9%, carmaker to join S&P 500
By Noel Randewich (Reuters) - Shares of Tesla Inc surged 9% in extended trade on Monday after S&P Dow Jones Indices announced that the electric carmaker would join the S&P 500 index , a major win for Chief Executive Elon Musk and his shareholders.
By Noel Randewich
(Reuters) - Shares of Tesla Inc
Tesla will join the S&P 500 prior to the opening of trading on Dec. 21, S&P Dow Jones Indices said in a news release.
Due to Tesla's unusually large market capitalization, S&P Dow Jones Indices said it would consult investors about whether the company should be added all at once or in two separate tranches.
With a market capitalization over $380 billion, Tesla is one of the most valuable companies on Wall Street.
Tesla's inclusion in the widely followed stock market index means investment funds that track the S&P 500 will have to buy billions of dollars worth of the company's shares.
A blockbuster quarterly report in July cleared a major hurdle for Tesla's potential inclusion.
(Reporting by Noel Randewich; Editing by Leslie Adler and Peter Cooney)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
MUNICH/FRANKFURT (Reuters) - German police fired water cannon during an anti-lockdown rally in Frankfurt on Saturday and eventually broke up the gathering as rules like wearing masks and socially distancing were not observed. About 600 people from the loosely organized Querdenker movement that opposes the government’s measures to halt the rise in coronavirus infections took to the streets in Frankfurt.
By Christian Hartmann PARIS (Reuters) - A silk shoe that belonged to Marie Antoinette, the last queen of France who was executed during the French Revolution, will go up for auction on Sunday - with a starting price of 10,000 euros ($11,800).
By Juarawee Kittisilpa and Matthew Tostevin BANGKOK (Reuters) - Thailand's King Maha Vajiralongkorn told well-wishers of the importance of unity as he marked the opening of a new railway line on Saturday, after thousands of protesters had turned their backs on his motorcade as it passed through central Bangkok. Around 2,500 demonstrators had gathered at the capital's Democracy Monument in the latest of months of protests against Prime Minister Prayuth Chan-ocha, demanding changes to the constitution as well as reforms of the monarchy. The protesters draped the centrepiece of the monument, which has become a rallying point for the protests, in a cloth covered in grievances and insults