Tesla Will (Finally) Be Added To The S&P 500

Tesla Inc TSLA will be added to the S&P 500 index after months and months of speculation.

The move will take effect prior to the open of trading on Dec. 21, 2020, to coincide with the December quarterly rebalance.

"Due to the large size of the addition, S&P Dow Jones Indices is seeking feedback through a consultation to the investment community to determine if Tesla should be added all at once on the rebalance effective date or in two separate tranches ending on the rebalance effective date. Tesla will replace a S&P 500 company to be named in a separate press release closer to the rebalance effective date."

See Also: Analyst: S&P Passed On Tesla Because It's 'Profoundly Overvalued'

Tesla's stock has been a huge run over the past year. Part of that bullishness was hope the stock would be added to the S&P 500 in 2020. The stock actually fell in early September after Tesla was passed over.

Tesla will be added to the index as a consumer discretionary stock.

Tesla's stock traded up 10% in Monday's after-hours session. Shares closed at $408.09.