Tesla Set to Become a Top 10 Company in the S&P 500
- With positive earnings in each of the last four quarters, Tesla is now eligible to join the S&P 500. They will be the 8th largest stock and 7th largest company on the benchmark index, with a market cap of $544 billion
- Tesla’s inclusion in the S&P 500 will commence in December of this year—an additional blow to Tesla bears as the index brings with it an additional layer of prestige
The New Kid On The Block
Tesla will be joining the S&P 500 in December, gaining eligibility for inclusion after posting positive earnings over four consecutive quarters.
In Q3’20, the company made $331 million in profits, and delivered 139,300 vehicles. The stock has been on a tear in recent years, and joining the index only furthers the automaker’s momentum – dealing another blow to the increasingly hopeless short sellers along the way.
|Company||Market Cap||TTM Earnings|
|Johnson & Johnson||$377B||$34B|
Anything But Standard
Standard & Poor’s have quite the criteria before a company can be considered for inclusion in their flagship index. To be part of the S&P 500, a minimum market cap of $8.2 billion is required.
Of course, market cap is not where Tesla’s weakness is. Valued at $544 billion, right off the bat they will be one of the top S&P 500 companies. Rather, net income has been the struggle for Tesla. After government subsidies, they posted $556 million in trailing twelve month (TTM) profits, placing them 357th in the index.
By market cap, Tesla runs with some of the all-time greats and will be the largest inclusion to join the index ever. When ranked by net income though, a much different ranking emerges:
|Rank||Company||Symbol||Annual Net Income|
|355||Tractor Supply Company||TSCO||$562M|
|358||Huntington Ingalls Industries||HII||$549M|
By this metric, the automaker can be found adjacent to lesser-known Mettler-Toledo and Tractor Supply Company.
The EV Revolution
As the electric car movement continues full steam ahead, Tesla as the market leader will play a pivotal role in society’s transition towards it. The average cost of the Model 3 is decreasing, thus increasing its affordability. This marks a positive signal as widespread adoption often above all requires feasibility for the masses.
As governments worldwide continue to bolster their arsenal in combating climate change, it catalyzes the demand for both electric vehicles and Tesla shares. With short seller activity beginning to subside, Tesla’s official kickoff in the S&P 500 next month could be the next chapter for Elon Musk & Co.
Where does this data come from?
Source: Asset Dash and Barchart.com.
Notes: Financial data is as of November 25th, 2020
The 10 Longest Range EVs for 2023
This infographic lists 10 of the longest range EVs currently for sale in the U.S. in 2023. The Lucid Air takes first place at 516 miles.
- EV models with over 300 miles (480 km) of range are becoming more common in the United States
- The Lucid Air (Grand Touring trim) has the highest EPA range at 516 miles (830 km)
The 10 Longest Range EVs for 2023
Range anxiety is frequently cited as one of the biggest turnoffs of electric vehicles (EVs).
Even as recent as 2021, the average range of an EV was just 217 miles (349 km), falling significantly short from the average gas car’s range of 413 miles (665 km). Thankfully, as this infographic shows, EVs with over 300 miles of range are becoming more common.
Below are the top 10 EVs for 2023, ranked by their EPA combined driving range. For further context, we’ve also included price. These values are for the specific trim that achieves the stated range. In some cases, more expensive trims are available but have a lower range (e.g. Tesla Plaid).
|Model||EPA Combined Driving Range||Price*|
|Lucid Air||516 mi (830 km)||$138,000|
|Tesla Model S||405 mi (652 km)||$84,990|
|Hyundai Ioniq 6||361 mi (581 km)||$45,500|
|Tesla Model 3||358 mi (576 km)||$55,990|
|Mercedes-Benz EQS||350 mi (563 km)||$104,400|
|Tesla Model X||348 mi (560 km)||$94,990|
|Tesla Model Y||330 mi (531 km)||$52,990|
|GMC Hummer EV Pickup||329 mi (529 km)||$110,295|
|Rivian R1T||328 mi (528 km)||$74,800|
|BMW iX||324 mi (521 km)||$87,100|
*Most recent prices available as of April 2023
Note that the EV market is rapidly evolving, and the data in this table has a limited shelf life. For example, Rivian is releasing a battery option dubbed the “Max pack” which promises up to 400 miles, but is not yet EPA rated.
Where Does This Data Come From?
Source: Car and Driver (range), manufacturer websites (price)
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