Tesla Inc. (TSLA) is technically a lot smaller than Google-parent Alphabet Inc. (GOOGL)(GOOGL), but it technically carries a higher weighting in the SPDR S&P 500 ETF (SPY) (SPY), given that Alphabet's weightings are split between its Class A and Class C shares. Tesla is entering the SPY, affectionately known as the "Spiders," with a market capitalization of $658.79 billion, compared with Alphabet's market cap of $1.17 trillion, and enough to make it the sixth-most valuable company in the ETF. But Tesla's weighting in the SPY is fifth at 1.686947, compared with Alphabet's Class A shares weighting of 6th at 1.661148 and the Class C shares weighting of 7th at 1.608403. Alphabet shares' combined weightings would place it fourth. Above Tesla in weightings is Apple Inc. (AAPL) at 6.478904, Microsoft Corp. (MSFT) at 5.289761, Amazon.com Inc. (AMZN) at 4.370437 and Facebook Inc. (FB) at 2.126779.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 21, 2020 06:44 ET (11:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.