May 19 (UPI) — Tesla is expected to be included in the S.P. 500 if it makes a profit in the second quarter, according tomedia reports. Tesla made a profit in the first quarter of this year, the first time since its inception that it has made three consecutive quarters of profit.
Being included in the S.P. 500 requires four consecutive quarters of earnings. If Tesla continues to make a profit this quarter, it is expected to be included in the S.P. 500.
Media said Tesla’s inclusion in the index would bring prestige as a benchmark stock index for the U.S. stock market and push index funds to put the company’s stock in positions.
Tesla shares rose 1.81 percent to $813.63 at Monday’s close, giving it a market capitalization of about $149.474 billion.