Tesla Motors Inc (TSLA) To Join MSCI World Index On August 30th
Tesla Motors Inc (NASDAQ:TSLA) will be added to the MSCI World Index starting August 30th. The MSCI World is a stock market index of 1,606 “world” stocks. MSCI is maintained by MSCI Inc., a leading provider of investment decision support tools worldwide.
The MSCI World Index is used to determine how the global stock market is doing based on the average of many of the top companies in the world. The index covers 24 developed market countries and 85% of the free float-adjusted market capitalization in each country. MSCI reviews each of its indexes quarterly and makes adjustments.
Tesla Motors Inc (NASDAQ:TSLA) is not the only company being added to the MSCI World Index mix. Other companies being added includes Michael Kors Holdings.
Tesla Motors Inc (NASDAQ:TSLA) is known for designing and manufacturing electric vehicles and electric vehicle power train components. Tesla Motors Inc (NASDAQ:TSLA) sells these components to several partners including Toyota Motor Corporation.
Tesla Motors Inc (NASDAQ:TSLA) was recently added to the NASDAQ-100 Index and the NASDAQ-100 Equal Weight Index this past July. Tesla Motors Inc (NASDAQ:TSLA) has seen a lot of growth in terms of their stock price this year. The year-to-date return on the company is around 312%.
The reason why Tesla Motors Inc (NASDAQ:TSLA) saw a massive stock price surge is because of their improvements in operating performance. The company posted their first quarterly profit this year.
Tesla Motors Inc (NASDAQ:TSLA) will be entering China this year and will likely launch a new flagship SUV vehicle called the Model X next year.
The Tesla Motors Inc (NASDAQ:TSLA) Model X will have Falcon Wing doors, panoramic glass, and the signature Tesla Touchscreen installed in the dashboard. The Model X will likely have zero tail-pip emission and have either a 60kWh or 85kWh battery. The Model X will also have an acceleration of 0-60MPH in under 5 seconds.