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Tesla Rallies as Investors Welcome All-at-Once S&P 500 Debut

  • Money managers to adjust portfolios for $538 billion company
  • Index provider had considered adding Tesla in two tranches
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Tesla S&P Debut Comes All at Once
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Tesla Inc. climbed on Tuesday after S&P Dow Jones Indices said it will be added to the S&P 500 Index in one shot on Dec. 21, a move that will ripple through the entire market as money managers adjust their portfolios to make room for shares of the $538 billion company.

Investors in the electric vehicle maker welcomed the simpler process, sending Tesla shares up 1.7% to $577.284 at 10:42 a.m. New York time. The stock, which closed at a record high on Friday, is up about 578% this year.