Tesla Rallies to Record All-Time High Ahead of S&P 500 Inclusion
Investors in Tesla saw the company’s stock rally to an all-time high of $695 per share to close out the Friday trading day, ahead of the electric automaker’s inclusion in the S&P 500, set to begin on Monday.
Shares of Tesla dipped below $637 per share at 3:45pm ET, only to rally in its final moments as index traders gobbled up the stock, sending it up 6% for the day.
According to Marketwatch, “Nearly 200 million shares traded hands, Tesla’s fifth-ever largest volume and its highest since early February.”
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So far in 2020, Tesla’s stock has had astronomical gains of 731%, whereas the S&P itself is up 15%. Tesla investors are now awaiting Monday’s trading day, the first time Tesla will trade as part of the S&P 500.