Tesla joining NASDAQ-100 July 15, booting off Oracle

The meteoric rise of Tesla Motors' stock this year has not only raised a bunch of money for the company and paid off its debts, it's also about to help push the stock into the rarefied NASDAQ-100. The news out today is that TSLA will join the NASDAQ-100 Index, a listing of the 100 largest non-financial companies on the NASDAQ, on July 15. Since the NASDAQ-100 is limited to 100 stocks, when one company enters, someone else gets pushed out of the door. The victim here will be the computer technology company Oracle Corporation, which is going to the New York Stock Exchange. Tesla Motors currently has a market capitalization of approximately $12.8 billion.

There have been other NASDAQ-100 changes this year, none of them automotive: Starz Inc. kicked off Liberty Media, only to see Kraft Foods give Starz the boot. Liberty Media then returned and kicked off Virgin Media. Netflix also replaced Perrigo. The list is always in flux, with about two dozen changes taking place in 2012 and about 10 in 2011. Other automotive-related companies presently on the list include O'Reilly Automotive and Paccar.

http://green.autoblog.com/2013/07/09...ng-off-oracle/

 

Musk must be happy, whereas Ellison might be crying. Oh well at lease he has a LFA to turn his frown upside down

 

I doubt either one of them (tesla and oracle) or any company on that list cares at all about that index. It doesn't benefit the companies in anyway only very specific fund managers in wall st. care about it at all so I doubt either one of the ceo's would lose any sleep over it.