Published on July 12th, 2013 | by James Ayre1
Tesla Motors Joining NASDAQ-100 Stock Index On Monday
Tesla Motors’ stock will now be featured — as of Monday, July 15th — on the elite NASDAQ-100 Stock Index. The announcement is no real surprise, though, given the year that Tesla has had — the stock has risen to new highs, debts have been paid off, the company hit its first quarterly profit, and the company is continuing to move towards the release of the upcoming Model X.
The NASDAQ-100 Stock Index is a listing of the 100 largest non-financial companies on the NASDAQ, and as such, Tesla’s (TSLA) move onto the list means that it’s kicking someone else off. In this case, that is the computer technology company Oracle Corporation, which will now be moved to the New York Stock Exchange.
Autoblog Green has more: “Tesla Motors currently has a market capitalization of approximately $12.8 billion. There have been other NASDAQ-100 changes this year, none of them automotive: Starz Inc kicked off Liberty Media, only to see Kraft Foods give Starz the boot. Liberty Media then returned and kicked off Virgin Media. Netflix also replaced Perrigo. The list is always in flux, with about two dozen changes taking place in 2012 and about 10 in 2011. Other automotive-related companies presently on the list include O’Reilly Automotive and Paccar.”
In related news, Tesla Motors has been continuing to make progress with regards to its right to sell directly to consumers, bypassing the unnecessary car-dealership sales model — Tesla recently won an important legal victory against the North Carolina Automobile Dealers Association when the North Carolina House of Representatives struck down a bill that would have banned Tesla from selling their vehicles directly to consumers. All that’s left now is to get the laws that were put on the books in Texas and Virginia reversed. Though, potential customers there can at least go out of state to buy their new Model S if they really want one…. while the economy of Texas and Virginia loses out because of it.