{"id":143,"date":"2019-11-11T11:08:28","date_gmt":"2019-11-11T16:08:28","guid":{"rendered":"https:\/\/demo.themesuite.com\/automotive-wp\/?p=143"},"modified":"2021-02-26T17:22:32","modified_gmt":"2021-02-26T22:22:32","slug":"tesla-to-join-nasdaq-100-as-oracle-defects-to-nyse","status":"publish","type":"post","link":"https:\/\/demo.themesuite.com\/automotive-wp\/tesla-to-join-nasdaq-100-as-oracle-defects-to-nyse\/","title":{"rendered":"Tesla to join Nasdaq 100 as Oracle defects to NYSE"},"content":{"rendered":"

\"\"<\/a>Tesla Motors Inc., the world’s best-performing automotive stock this year, will join the Nasdaq-100 Index next week, filling the spot vacated by Oracle Corp., which is moving to the New York Stock Exchange.<\/p>\n

The electric-car maker will be added to the gauge, which tracks the biggest companies on the Nasdaq, before the start of trading on July 15, Nasdaq OMX Group Inc. said in a statement Monday. Oracle, which last month said it will join the NYSE, is the biggest company to jump between the competing exchanges.<\/p>\n

Shares of Tesla, the carmaker headed by billionaire Elon Musk, have more than tripled this year as the popularity of its new Model S sedan helped the company turn its first quarterly profit. Gaining entry to benchmarks tracked by investors is attractive to public companies because it provides a guaranteed shareholder base.<\/p>\n

\u201cIt\u2019s a coming of age, recognition that a company has market cap and liquidity,\u201d said Sandy Mehta, chief executive officer of Value Investment Principals Ltd. in Hong Kong. \u201cOnce the stock joins the index, you will have some buying.\u201d<\/p>\n

Tesla has surged 264 percent this year. The current leader in the Nasdaq-100 in 2013 is Netflix Inc. (NFLX), which has gained 166 percent.<\/p>\n

Model S<\/strong><\/p>\n

Exchange-traded funds and other products linked to the Nasdaq-100 managed about $49.4 billion at the end of last year, according to data compiled by Nasdaq.<\/p>\n

Tesla, based in Palo Alto, California, has forecast Model S sales will reach 21,000 units this year, with deliveries to Europe and Asia beginning in the second half. The Model S, which starts at $69,900 in the U.S., is Tesla\u2019s second vehicle after the $109,000 Roadster.<\/p>\n

Oracle\u2019s defection means Nasdaq will lose its fourth-biggest U.S. company, which has been listed on the nation\u2019s second-largest exchange since its 1986 initial public offering.<\/p>\n

For Nasdaq, Oracle\u2019s loss is a contrast to recent additions. Texas Instruments Inc. (TXN) joined from the NYSE in 2011. Last year, Facebook Inc. (FB) chose Nasdaq for its IPO and Kraft Foods Inc. defected from the NYSE.<\/p>\n","protected":false},"excerpt":{"rendered":"

\"\"Tesla Motors Inc., the world’s best-performing automotive stock this year, will join the Nasdaq-100 Index next week, filling the spot vacated by Oracle Corp., which is moving to the New York Stock Exchange.<\/p>\n

The electric-car maker will be added to the gauge, which tracks the biggest companies on the Nasdaq, before the start of trading on July 15, Nasdaq OMX Group Inc. said in a statement Monday. Oracle, which last month said it will join the NYSE, is the biggest company to jump between the competing exchanges.<\/p>\n

Shares of Tesla, the carmaker headed by billionaire Elon Musk, have more than tripled this year as the popularity of its new Model S sedan helped the company turn its first quarterly profit. Gaining entry to benchmarks tracked by investors is attractive to public companies because it provides […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,5],"tags":[14,20,21,22],"class_list":["post-143","post","type-post","status-publish","format-standard","hentry","category-automakers","category-manufacturing","category-production","tag-financial","tag-nasdaq","tag-nyse","tag-tesla"],"_links":{"self":[{"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/posts\/143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/comments?post=143"}],"version-history":[{"count":7,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/posts\/143\/revisions"}],"predecessor-version":[{"id":1045,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/posts\/143\/revisions\/1045"}],"wp:attachment":[{"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/media?parent=143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/categories?post=143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.themesuite.com\/automotive-wp\/wp-json\/wp\/v2\/tags?post=143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}