Tesla is replacing Oracle on the NASDAQ-100 Index showing just how far the electric car industry has come. The most successful electric carmaker on the planet will take the spot before the market opens July 15 as Oracle relocates its stock listing to some fly-by-night operation called the New York Stock Exchange.
Tesla has had an electric run of it lately. Its share price has trebled in price in the first half of this year as the American carmaker sold thousands of its award-winning Tesla Model S sedans. Presently, its market capitalization is around $14.5 billion.
The NASDAQ 100 Index lists 100 of the biggest non-financial securities listed on the NASDAQ stock market, a market that has traditionally been home to technology company listings.
