Tesla Earnings Optimism Fuels Anticipation of S&P 500 Inclusion

Tesla (NASDAQ:TSLA) stock has more than tripled in value in 2020, gaining in nine of the past 11 sessions, compared to losses in both the S&P 500 index and the Dow Jones Industrial Average, reported The Wall Street Journal.

Those gains have put Tesla’s market value at around $286 billion, more than Bank of America (NYSE:BAC) and American Express (NYSE:AXP) combined, according to FactSet data cited by WSJ.

Partly driving the rally in Tesla’s stock has been optimism about the company’s earnings report due on July 22 which could make it eligible for inclusion in the S&P 500.

If Tesla were included in the S&P 500, it would be the 13th-largest company in the index, just behind JPMorgan Chase (NYSE:JPM) which has a market value of around $298 billion.

Tesla is one of InvestorPlace’s “4 Top Stock Trades for Tuesday” this morning.

Article printed from InvestorPlace Media, https://investorplace.com/2020/07/tesla-stock-earnings-optimism-fuels-anticipation-of-sp-500-inclusion/.

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