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Tesla added to Nasdaq 100

Posting in Energy

In addition to having the top-performing car of the year, Tesla Motors also has one of the hottest stocks of the year, including the top automotive stock so far.

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 numbersglowing 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.

Photo: Tesla

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— By on July 9, 2013, 6:26 AM PST

Tyler Falk

Contributing Editor

Tyler Falk freelance journalist based in Washington, D.C. Previously, he was with Smart Growth America and Grist. He holds a degree from Goshen College. Follow him on Twitter. Disclosure