At the start of April, stock for the electric carmaker was trading for less than $40 a share. It's currently trading for more than $120, spurred by solid sales numbers, glowing reviews of its Model S, and the company paying off its $465 million loan nine years early. Now Tesla will join the Nasdaq 100 Index, the 100 largest non-financial stocks in Nasdaq stock exchange, starting July 15. Tesla will replace Oracle Corporation as it moves to the New York Stock Exchange.
According to Nasdaq, Tesla has a market capitalization of approximately $12.8 billion.
The news has only bolstered the stock. At market closing today, Tesla stock was up 1.5 percent.
Related on SmartPlanet:
- Watch Tesla’s 90-second electric vehicle battery swap demonstration
- Tesla recalls Model S vehicles over safety concerns
- Tesla plans to triple Supercharger network
- Tesla pays off $465 million loan nine years early
- Tesla Model S is top-scoring car: Consumer Reports
- Tesla rolls out loaner, valet service
- Tesla Model S races past sales targets