Tesla in MSCI World Index from Aug 30 - Analyst Blog
August 16 2013 - 3:00PM
Zacks
MSCI Inc. (MSCI) has announced that
Tesla Motors, Inc. (TSLA) will be added to its
MSCI World Index from Aug 30, 2013. The index covers more than
1,600 large and mid cap stocks trading in 24 developed markets.
MSCI will also add accessory, clothing and footwear company,
Michael Kors Holdings Limited (KORS) to the MSCI
World Index. These additions are part of the Aug 2013 Quarterly
Index Review for the MSCI Equity Indices.
Tesla designs and manufactures electric vehicles and electric
vehicle power train components. The company sells these components
to various partners including Toyota Motor
Corporation (TM). The stock debuted in the NASDAQ-100
Index and the NASDAQ-100 Equal Weighted Index on Jul 15 this
year.
The stock of decade-old Tesla has recorded massive gains this
year. The year-to-date return of the company is an astounding
312%.
However, the rapid price surge is also supported by Tesla’s
improving operating performance. The company posted its first-ever
quarterly profit, on an adjusted basis, in the first quarter of
2013. It posted profit on an adjusted basis in the second quarter
of 2013 as well.
Tesla is making efforts to increase its income. Earlier this
year, the company announced its plans to enter the world’s biggest
market – China.
Tesla is also launching a new SUV – Model X – in 2014. The model
scores high on style, with Falcon Wing doors, premium interior
surfaces, panoramic glass and Tesla Touchscreen installed in the
dashboard. It also boasts zero tail-pipe emission and offers a 60
or 85 kWh battery. The car will have an optional Dual Motor
All-Wheel Drive, which will make it the fastest SUV, with
acceleration from 0 to 60 mph in less than 5 seconds.
Tesla is also gaining from rising demand for Model S. The
company expects to deliver over 5,000 Model S vehicles in the third
quarter of 2013 and 21,000 vehicles globally in 2013.
Tesla currently carries a Zacks Rank #3 (Hold).
MICHAEL KORS (KORS): Free Stock Analysis Report
MSCI INC-A (MSCI): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
TESLA MOTORS (TSLA): Free Stock Analysis Report
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