Tesla Stock Jumps on News It Will Join the S&P 500

In a move investors have long anticipated, S&P Global -- the body that manages some of the most prominent stock indices in the U.S. -- announced on Monday that Tesla (NASDAQ: TSLA) will be joining the S&P 500 Index before trading commences on Monday, Dec. 21. Tesla stock jumped on the news and is currently up more than 14% in after-hours trading.

The electric-vehicle maker was widely expected to make the cut in early September during the index's quarterly rebalancing, but it failed to make the list at that time.

Image source: Tesla.

Source Fool.com