Follow the Money

Tesla’s Good Fortune Rolls On As Its Stock Is Added to the NASDAQ 100

It's a "coming of age" moment for Tesla.
$$$$$ (Photo: Tesla)

$$$$$ (Photo: Tesla)

Tesla Motors, the electric powered Hot Wheels for the rich, is having its stock elevated on the NASDAQ.

Bloomberg reports that the “worlds-best performing automotive” stock of 2013 is being added to the NASDAQ-100, an index of the largest non-financial stocks on the exchange, on July 15.

One analyst called Tesla’s entrance into the index as a “coming of age” moment that will spur buying of its stock as it gains wider exposure and a larger shareholder base. The stock shot up three percent to $124 per share upon the announcement.

The Elon Musk-owned company’s stock has skyrocketed more than 250 percent since March when it announced that sales for the new Model S sedan were exceeding targets and helped the Palo Alto-based company turn its first quarter-profit.

Zooey Deschanel is going to be even excited more than usual.

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