Tesla Inc (TSLA) started the week with a drop of -3.10 percent to settle at $567.60. Tesla’s expected incorporation into the S&P 500 next month could be achieved in two steps, according to the Wall Street Journal. But on Monday, the results of the discussion in this direction resulted in an announcement to done the task in one go. Full float-adjusted market capitalization weight of Tesla which is more than 1 percent of the index will be added to S&P 500 index effective prior to the open of trading on Monday, December 21, 2020.
Furthermore, according to a document published on the Ministry of Industry and Information Technology website, Elon Musk’s group has obtained permission to sell its Shanghai-made Model Y in China.
For its part, General Motors Company (GM) was down -2.71% on the day to $43.84. For its part, the U.S. auto maker finds it difficult to be persuaded by a new, less optimistic version of its partnership agreement with Nikola Corporation (NKLA) (-26.92%), which no longer foresees the entry of GM into the electric vehicle designer’s capital. This non-committing project is however still subject to negotiation.
Salesforce.com Inc (CRM) dropped -0.74 percent to $245.80 while Slack Technologies Inc (WORK) jumped 5.43 percent to $42.88 in Monday’s trading. The US customer relationship management specialist is to announce the acquisition of Slack on Tuesday after Wall Street closes, according to David Faber of CNBC. Since the beginning of the health crisis, the stock price of the collaborative work platform has risen +46.65%, thanks to the growth of telecommunications around the world. It accelerated again last week after talks between the two parties were disclosed by the Wall Street Journal.
Alibaba Group Holding Limited (BABA) fell -4.75 percent to $263.36 at close of the trading on Monday. Bloomberg understands that Ant Group could delay its IPO until 2022 or even later, citing regulators familiar with the matter.