Tesla shares spike 15% as S&P 500 addition confirmed!
Shares in Tesla spiked nearly 15% higher after an announcement confirmed the 17-year old elective vehicle maker will become a constituent of the S&P 500 stock market index. The index is arguably the world's most famous and will certainly help Tesla increase its investor base.
Tesla will be the largest ever new member to the index which it is set to enter on December 21, 2020. Much of the anticipation has been built in the stock price with its share price rallying higher this year. However, it does follow months of speculation and investors will be glad the uncertainty is over.
It has not yet been announced which company Tesla is set to replace in the S&P 500 but its share price will have a weighting on the index similar to Berkshire Hathaway and Procter & Gamble. Founder, Elon Musk, has made it his latest mission to be more of a global player and has recently opened plants in Shanghai and is building a factory in Berlin and a second US plant in Texas, making it a very interesting time for Tesla investors!
Did you know that you can speculate on the direction of Tesla's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade Tesla with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the share price of Tesla you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Tesla and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #TSLA, Weekly - Data range: May 18, 2014, to Nov 17, 2020, performed on Nov 17, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results.
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