Shares of Tesla Inc. they ended the era of the pre-S&P 500 index with a final rally and investor interest.
Tesla TSLA,
rose 6% to close at a record $ 695 on Friday, reversing the price at the beginning of the day and gathering most of its steam in the last trading moments.
Nearly 200 million shares traded hands, the fifth largest volume of Tesla and the largest since the beginning of February. The stock was the best performing and most active on the Nasdaq 100. NDX,
The S&P 500 index, which Tesla will soon join, fell 13.07 points, or 0.35%. Tesla shares fell on Friday in the extended session on Friday, down 2% at the last check.
Related: Do you buy Tesla shares? Here’s what an analyst says before adding the S&P 500
On Monday, Tesla shares begin trading on the S&P SPX,
an approval seal that will put the stock in countless and actively managed index tracking funds, which will have to follow suit to balance their portfolios.
The S&P index manager announced the inclusion of Tesla on November 16, after removing the company in a previous rebalancing.
Emphasizing the complexity of adding the company, the S&P Dow Jones Indices consulted with investors on how to make it, and finally decided to add Tesla all of a sudden.
Since announcing the addition of the S&P, Tesla has added $ 271.96 billion in market value, which is higher than the market capitalization of Toyota Motor Co., currently around $ 213 billion.
In fact, this valuation jump from the November announcement is about where Tesla was valued in mid-July and is higher than the market value of 483 S&P 500 companies, or almost 97% of the companies in the index.
So far this year, the stock has increased by 731%, compared to the gains of about 15% for S&P.