“In a remarkable 2020, Tesla might just be the most remarkable market story of them all,” writes Deutsche Bank strategist Jim Reid.
He’s certainly not wrong, given Tesla’s (TSLA) meteoric rise in the stock market this year, and it’s even been suggested that the company could have an even larger impact on the stock market as a whole moving forward, according to CNBC.
Reid went on to say, “Given its colossal size and that of the tech sector, their paths in 2021 will probably be a big macro driver of markets. Investors in all asset classes might have to assess whether valuations are justified and sustainable.”
$TSLA Are y’all ready?? Is today the day? Premarket indication says…. who knows 🤷♂️ #Tesla #stockstowatch #investing pic.twitter.com/2ubzdhW4WO
— $Tesla Alerts (@tesla_rn) December 16, 2020
As Tesla prepares to officially enter the S&P 500 index on Friday, it’s expected to be one of the biggest trading days in stock market history. They’ll replace Apartment Investment and Management Co. on the index, and will be one of the highest valued stocks to enter the index in history, forcing investors of the index to make some room in their portfolios for Tesla.
In any case, Friday’s shaping up to be an exciting day one way or another. A world away from Tesla and CEO Elon Musk’s beginnings in the early 2000s, Tesla is on top of the world – a trend that isn’t likely to change anytime soon.
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