Tesla (TSLA) Surges 19% to Record High Ahead of S&P 500 Debut

Shares of Tesla have hit an all-time high as predicted, surging as much as 19% on Thursday morning, currently trading at $506.37 per share. Earlier in the trading day at open Tesla hit $507.76 per share.

The huge rally comes ahead of Tesla’s inclusion in the S&P 500, officially announced this week and set for December 21, 2020.

Tesla saw gains of nearly 20% in two days following the announcement, and today sees yet a huge 19% jump in a single trading day. Tesla’s market cap is now at $479 billion.

With entry into the S&P 500, many index funds will need to buy into Tesla, with JPMorgan Chase analysts predicting $34 billion worth of shares will need to be purchased.

How much higher can Tesla soar? Hold on for the ride, folks.