Electric vehicle maker Tesla appears to be working hard to join the US Standard & Poor's 500 (S&P 500) index after becoming the most valuable car maker in the world on Wall Street. According to the news agency “Reuters”, this may be the greatest achievement of the company's founder, Elon Musk, and if it materializes, it could trigger a new demand for the company's shares, which since last year have already increased by 500%.
The second quarter revealed good results in vehicle deliveries and made analysts more confident that the company will be able to reach profit for the first time, a key point for entering the S&P 500 index.
Currently, the company managed by Musk has a market capitalization of 250 billion dollars, greater than 95% of the companies already belonging to the S&P 500. According to analyst Howard Silverblatt, heard by “Reuters”, the only company in a comparable situation is Yahoo, in 1999.
Before entering the new century, Yahoo appreciated 64% in five days, from the day the index entry announcement was made on November 30th and the final entry on December 7th. At the time, Yahoo's market capitalization was $ 56 billion.
For Tesla to enter the index, Ivan Cajic, chief investigator at Virtu Financial, told the same source that index managers will have to hold close to 25 million shares, which are currently valued at $ 34 billion. eight stock market sessions, Tesla appreciated 43% and each share is valued, as of today, at $ 1.437.