July 8 Nasdaq OMX Group Inc said Tesla
Motors Inc will replace Oracle Corp on the
Nasdaq 100 stock index, reflecting the rising profile of the
U.S. electric car maker.
Oracle said in June that it was moving its stock listing to
the New York Stock Exchange from the Nasdaq, in the largest-ever
U.S. market transfer and a coup for NYSE Euronext.
Tesla will become a component of the Nasdaq 100 Index and
the Nasdaq 100 Equal Weighted Index prior to the market opening
on July 15, the exchange said on its website. ()
In contrast to several traditional automakers that have
rolled out electric vehicles that failed to live up to
expectations, Tesla has sold thousands of its luxury electric
cars. Tesla shares have nearly tripled this year.
Traditionally, Nasdaq had a lock on technology company
listings, and NYSE on blue-chip stocks, but both have made gains
into each others' respective territories in recent years.
The Nasdaq 100 Index includes 100 of the largest domestic
and international non-financial securities listed on the Nasdaq
stock market based on market capitalization.
Tesla has a current market capitalization of about $14.5
billion, according to Thomson Reuters data.