Read the story here. Advertise at Before It's News here.
Profile image
Story Views
Last hour:
Last 24 hours:

Tesla (TSLA) will kick out Occidental Petroleum from the S&P 100 index

% of readers think this story is Fact. Add your two cents.

A recent announcement from the S&P Dow Jones Indices has indicated that Tesla (NASDAQ:TSLA) will be replacing Apartment Investment and Management Co. in the S&P 500. Apart from this, Tesla is also being added to the S&P 100, where it would be replacing Occidental Petroleum Corp, one of the United States’ most notable petroleum producers. 

The Standard & Poor’s 100 index is a subset of the S&P 500, and it tracks the performance of the 100 largest stocks in the United States by market cap. As noted in an Investopedia report, the S&P 100 is a capitalization-weighted index, and its members are selected from a broad range of industries. This makes the index a fair proxy for US corporate performance.  

Credit: S&P Dow Jones Indices

While the S&P 100 is generally not as popular as the S&P 500, the index is nevertheless a key benchmark for numerous financial firms that are involved with large, blue-chip companies. The fact that Tesla is essentially kicking out Occidental Petroleum from the S&P 100 is almost like icing on the cake, and it’s nothing short of symbolic and representative of the emerging sustainability-focused industry. 

Tesla is poised to be added to the S&P 500 this coming Friday. Apartment Income REIT Corp. will be moving to the S&P MidCap 400, where it would be replacing Dunkin’ Brands Group Inc. Occidental Petroleum, despite being taken off the S&P 100, will remain as a member of the S&P 500 index. 

Tesla has been on a tear since the S&P Dow Jones Indices announced that the electric car maker would be added to the S&P 500 this December. Following the announcement, TSLA stock gained 49%, adding $191 billion to its market capitalization in 18 trading days. Amidst its five consecutive profitable quarters and its ongoing domination of the electric vehicle sector, Tesla stock has surged 629% this year so far

Disclaimer: I am long TSLA.

The post Tesla (TSLA) will kick out Occidental Petroleum from the S&P 100 index appeared first on TESLARATI.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.