Tesla emblem on Model S

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.
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Tesla Motors, Inc. to Join the NASDAQ-100 Index Beginning July 15, 2013

NEW YORK, July 8, 2013 (GLOBE NEWSWIRE) -- Tesla Motors, Inc. (Nasdaq:TSLA) will become a component of the NASDAQ-100 Index(R) (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) prior to market open on Monday, July 15, 2013. Tesla Motors, Inc. will replace Oracle Corporation (Nasdaq:ORCL).

Tesla Motors, Inc. is headquartered in Palo Alto, California, and has a market capitalization of approximately $12.8 billion. For more information about the company, go to www.teslamotors.com.

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