, Columnist
When Tesla Joins the S&P 500, You Know It’s Game Over
History is replete with examples of up-and-coming stocks going bust the moment leading equity indexes finally give their blessing.
A blessing or a curse?
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
In an anecdote often attributed to President John F. Kennedy’s father, the moment he knew to get out of the 1920s stock market boom was when he started receiving share tips from his shoeshine boy.
You can make a similar argument about the moment that leading equity indexes finally give their blessing to an up-and-coming stock. The latest and most dramatic instance of that will happen next month, when the S&P 500 will admit Tesla Inc. through its club doors for the first time.