Tesla Stock Joins NASDAQ-100 Index
In anticipation of Tesla's next earnings report due out on the 22nd of July, the stock has reached over $120 per share in NASDAQ trading, giving the car company a huge market capitalization of $14.2 billion.
The company is definitely not going unnoticed these days, as NASDAQ officials have recognized the stock's growth. As of July 15, it will be one of the 100 companies listed in the NASDAQ-100 index. If you don't know what an index is, it's basically an average of many listed companies which acts like an industrial barometer, showing where the market is going in terms of stock price. You can also trade future contracts on its variation.
The fact that Tesla is getting its own place in NASDAQ's top 100 stock index increases the company's notoriety. To make room for the carmaker, another well known technology company has had to be kicked out, and as of July 15th Oracle will no longer be part of listing.