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Goldman Sachs: Tesla's S&P 500 Entry Could Prompt Buying Spree

2020-11-20 5 Dailymotion

On Thursday, lGoldman Sachs said large-cap mutual funds are on the verge of fueling a massive rally for Tesla shares.<br />Business Insider reports that Tesla is set to join the S&P 500 on December 21 as one of its 10 most valuable members.<br />Of the 189 large-cap core funds tracked by Goldman, 157 funds managing roughly $500 billion don't yet hold Tesla stock, the bank said.<br />Goldman says some funds may aim to hold Tesla at benchmark weight when it joins the index.<br />If so, Goldman said, funds will buy about $8 billion worth of shares soon after the automaker's inclusion.

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