Tesla’s Arrival on the S&P 500 Pushes Out Apartment REIT
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S&P Dow Jones Indices said it will remove Apartment Investment and Management Co. from its benchmark index to make way for electric vehicle maker Tesla Inc.
The announcement caps the long-awaited addition of the automaker as investors around the world plan for the S&P 500 Index changes to take effect on Dec. 21. While companies are dropped and added to the index regularly, the process has attracted immense attention this time due to Tesla’s hugely anticipated entry into the group.