Tesla sees two-day increase ahead of S&P 500 debut

Tesla TSLA.O had seen a 10% increase in its shares, placing near a record peak on Wednesday. The jump came to be the company’s second day of gain after it was reported that the electric car maker’s shares will be listed under the S&P 500 index.

The California-based company’s shares advanced nearly 20%. The increase followed after the S&P Dow Jones Indices announced on Monday their plans of putting Tesla under Wall Street’s most-watched benchmark.

Previously, the company’s shares recorded a 21% decline in one of its session on Sept. 8. The drop could be attributed to the company’s failure to list itself under the S&P 500 as it was left out by a group of companies. But with a total of 500% increase in 2020, Tesla sealed its name as the most valuable automobile manufacturer in the world.