Tesla (TSLA - Free Report) shares have surged more than 200% in the past four months and more than 75% this year. Its market cap now exceeds the combined market value of big three automakers—General Motors (GM - Free Report) , Ford (F - Free Report) and Fiat Chrysler (FCAU - Free Report) --though the company sells far fewer cars.
The electric-vehicle maker reported better-than-expected results in the past two quarters and record deliveries in the fourth quarter. The stock was up again yesterday on reports that its Shanghai factory could reopen soon. The carmaker had started shipping Model 3 sedans from the plant which was completed in record time.
120 ETFs hold Tesla in their portfolios but it is not included in the S&P 500 index yet since the company hasn’t met the profit requirement for inclusion. The Invesco QQQ ETF which tracks the Nasdaq-100 index holds Tesla with a portfolio weight of about 1.5%.
To learn more about the First Trust NASDAQ Global Auto Index Fund (CARZ - Free Report) , VanEck Vectors Low Carbon Energy ETF (SMOG - Free Report) , First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN - Free Report) , ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report) and Global X Lithium & Battery Tech ETF (LIT - Free Report) , that have largest allocations to Tesla, please watch the short video above.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>