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Tesla set to join S&P 500 in December 2021 leading to a stock rise of 15%

After a successful launch of the SpaceX Dragon to space, Tesla Inc is now set to become part of the world's famous stock indexes S&P 500.

The following months of speculation, and one temporary setback, after the stock failed to make the cut during the index’s quarterly rebalancing in early September. Tesla will enter the S&P 500 on December 21, it would be the largest new company to enter the index following the market cap of $390 billion.

According to Bloomberg reports, It’s so big that S&P Dow Jones Indices said: "It is seeking feedback from the investment community to determine if Tesla should be added all at once or in two separate pieces." The company that Tesla is to replace in the index will be named later, the index provider said. The Tesla owner Elon Musk is having eventful days as the owner has indicated the symptoms of Covid-19. Tesla shares rose to 15 % after the initial news.