Three new names will be added to the S&P 500 index this month, but none of them are Tesla Inc.
The S&P Dow Jones index announced Friday afternoon that it will add three companies to the S&P 500 SPX,
– Catlant Inc. CTLT,
, Etsy Inc. ETSY,
And Teradine Inc. T.E.R.,
Tesla Inc. TSL,
Profits were expected to be added after the announcement of the need for indicators after the announcement of the fourth consecutive quarter of profit, which many observers attributed to the sharp rise in shares of the electric-car company in recent weeks.
After the Tesla reported a profitable quarterly report in July, Wadebush analyst Dan Ives said the inclusion of the S&P 500 is now a potential deal.
“This was a bit of a shock and the street assumed this was a pre-conclusion,” Ives said in an email to Markat atch Chan on Friday afternoon. “Not coming to the Tesla S&P 500 club is a major scratcher and the stock will likely decline for index suggestions.”
Tesla shares have risen more than 31% since the announcement of second-quarter earnings on the afternoon of July 22, although that performance has declined this week – at the end of Monday’s trading session, earnings rose 56%. The stock has suffered losses this week following a split in shares, the announcement of plans to sell up to billion 1 billion in fresh stock and internal sales. Overall, the electric-car company’s shares have still quadrupled this year, pushing its market capitalization to 3 80,380 billion by the time the bell closes on Friday.
The previous three members of the S&P Midcap 400 will move to a rather large index, and will replace the other three companies, the Midcap Index, H&R Block Inc. HRB,
, Coty Inc. Coty,
And Kohl’s Corp. KSS,
The changes will take effect before the start of trading on September 21st.
Tesla stock has fallen more than 5% in post-trading since the announcement. Catalant stocks rose about 3%, Etsy’s stocks rose more than 5% and Teradine stocks rose more than 2%.
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