Tesla will join the S&P 500 index today. The electric vehicle company qualified for the index earlier this year after reporting four consecutive quarters of profitability. Tesla will have a 1.7% weighting in the index, making it the fifth-largest component after Apple, Amazon, Microsoft, and Facebook (and the sixth-largest component when combining Google’s two share classes).
More context: The S&P 500 is one of the three major US stock market indices. The index measures the stock performance of 500 large companies listed on stock exchanges in the US.