Tesla Motors joins the NASDAQ 100

Tesla Motors has replaced Oracle on the Nasdaq 100, which tracks the biggest companies on the Nasdaq. Oracle announced last month that it is moving to the New York Stock Exchange.

Tesla’s current market cap is $15 billion; Oracle’s is $145 billion. Being added to the NASDAQ-100 is widely seen as a vote of confidence for the Palo Alto automaker, and means that fund managers will now be adding Tesla’s stock to index funds.

The Nasdaq-100 includes the likes of Apple, eBay, Facebook, Google and Yahoo; Tesla is the only American automaker on the list.

 

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