Updated from 8:32 a.m. EST to provide analyst comments in the twelfth paragraph.
Late on Monday Nasdaq announced that the Palo Alto, Calif.-based company will be joining its NASDAQ-100 Index, as well as the NASDAQ-100 Equal Weighted Index prior to the beginning of trading on July 15, 2013. Tesla will replace Oracle (ORCL), which is joining the New York Stock Exchange.
Tesla shares were higher in early Tuesday trading following the announcement, gaining 3.08% to $125.35.This announcement solidifies the coming of age of the electric car and the Model S, and most importantly, Tesla itself. The company could not be immediately reached for comment for this story. It's pretty incredible that a company that's only 10 years old has joined the Nasdaq 100. As CNBC's Herb Greenberg points, Tesla joined the Nasdaq 100 faster than Netflix (NFLX), and on a similar trajectory to Amazon (AMZN).
$TSLA joining the Nasdaq 100, Reality Check: It's 10 yrs old, public 3 yrs. NFLX, 16, added last month. $AMZN, 2008, 2 yrs old, public 1 yr.— Herb Greenberg (@herbgreenberg) July 9, 2013Having test-driven a Model S, I can say without a shadow of a doubt, it's the most incredible driving experience I've ever had. The interior of the car is immaculate, and has every gadget and toy you could possibly want. Drivers can go from 0 to full torque instantly. It's truly an experience like no other, and speaks to the innovation that CEO Elon Musk and Tesla have incorporated into their vehicles.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV