Tesla Inc. stock ended its pre-S&P 500 index’s era with one final rally and plenty of investor interest.
Tesla TSLA,
Nearly 200 million shares traded hands, Tesla’s fifth-ever largest volume and its highest since early February. The stock was the best performer and most active stock on the Nasdaq 100. NDX,
The S&P 500 index, which Tesla will soon join, finished down 13.07 points, or 0.35%. Tesla shares turned lower in the extended session Friday, down 2% at last check.
Related: Buying Tesla stock? Here’s what one analyst says ahead of S&P 500 addition
On Monday, Tesla shares start trading on the S&P SPX,
The S&P’s index manager announced Tesla’s inclusion on Nov. 16, after snubbing the company in an earlier rebalance.
Underscoring the complexity of adding the company, S&P Dow Jones Indices consulted with investors on how to go about it, ultimately deciding to add Tesla all at once.
Since the S&P addition’s announcement, Tesla has added $271.96 billion in market value, which is greater than Toyota Motor Co.’s market capitalization, currently around $213 billion.
In fact, that valuation jump since the November announcement is about where Tesla was valued in mid-July, and is more than the market value of 483 S&P 500 companies, or nearly 97% of the companies in the index.
The stock is up 731% so far this year, compared with gains around 15% for the S&P.
