Tesla will replace Apartment Investment and Management Co. in the S&P 500 when the electric vehicle company joins the index before trading begins on Dec. 21, S&P Dow Jones Indices said Friday.
Tesla will also be added to the S&P 100, replacing Occidental Petroleum in that index.
S&P Dow Jones Indices previously announced on Nov. 16 that Tesla would join the S&P 500. Tesla’s size — it’s the largest company ever to be added to the benchmark index — prompted the index provider to seek feedback from the investment community over whether to add Tesla all at once or in two separate tranches.
S&P Dow Jones Indices ultimately decided on the former, announcing on Nov. 30 that it would add Tesla…