The S&P 500 has officially announced changes in the index due to the recent inclusion of Tesla (NASDAQ: TSLA). Tesla is will join the S&P 500 & 100, replacing Apartment Investment and Management Co.
Tesla has already met the criteria for inclusion in the S&P 500 with five profitable quarters following the Q3 2020 earnings report which includes the last four quarters of a business to be profitable and the previous quarter to be profitable.
November 30th, S&P announced the Tesla addition to the S&P 500 prior to open December 21st at full float adjusted market cap weight in a single step.
The index announced today, Tesla will replace Apartment Investment and Management Co., and Tesla will also be added to the S&P 100, replacing Occidental Petroleum Corp. which will remain in the S&P 500.
In the S&P MidCap 400, Apartment Income REIT Corp. will replace Dunkin’ Brands Group Inc. In a deal scheduled to be completed after closing on Monday, December 14th, Apartment Investment and Management will spin off Apartment Income REIT.
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