Tesla to join S&P 500 index, further boosting share price
Electric vehicle manufacturer Tesla is to join the S&P 500, with the announcement sending its share price up by over 10%.
The stock market index, which is one of the most influential and widely followed, tracks 500 large companies listed on US stock exchanges. Tesla’s admission sees it join the likes of Microsoft, Amazon, Apple and Alphabet, to name a few, who have all experienced bumper years thanks to .
The company’s place reflects the fact of it being perhaps the greatest beneficiary of that trend, hovering around a valuation, making it the world’s most valuable car company. Its technological approach has proved influential, with competitors scrambling to adopt features such as over-the-air updates and self-driving technology.
The scale of its recent growth led the S&P 500 to consider how best to add the company, saying: “Due to the large size of the addition, S&P Dow Jones Indices is seeking feedback through a consultation to the investment community to determine if Tesla should be added all at once on the rebalance effective date or in two separate tranches ending on the rebalance effective date.”
It is yet to be announced which company will be booted out of the S&P 500, with the announcement simply saying: “Tesla will replace a S&P 500 company to be named in a separate press release closer to the rebalance effective date.”
Searching for the Top 100 Leaders in Technology
The search is on for the Top 100 Leaders in Technology 2021 – nominated by readers of Technology magazine and open to all.
The initiative has been launched and nominations are now open, with the final, prestigious Top 100 due to be announced during Technology and AI LIVE running 14-16 September, beamed from London to the world.
This latest, definitive list of the leading executives and influencers in the industry will be announced at the event and shared across social media channels, this website, and presented in a special supplement that honours all of those named in our annual list.
The Top 100 Leaders follows on from the well-received Top 100 Women in Technology that BizClik Media Group (BMG) – publishers of Technology magazine, AI magazine and a growing portfolio of industry-leading titles – produced in March this year to coincide with International Women’s Day.
“The Top 100 Women recognised the incredible and influential women driving our industry,” says Scott Birch, editorial director, BMG. “The success of that initiative encouraged us to recognise the Top 100 Leaders – individuals championing everything that we love about technology and embracing best practice that’s good for business.”
Nominations are already coming in, with some notable highlights including:
Rhonda Vetere - Herbalife
Bryan Smith - Expedient
Nominate your Top 100 Leader HERE
The deadline for nominations closes on Sunday 1 August 2021, and it is free to nominate. The Top 100 Leaders will be announced across our platforms and at the LIVE event.