Tesla Joins Nasdaq 100 Index as Oracle Moves to NYSE

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Stan Honda, AFP/Getty ImagesThe Tesla Model S on display at the North American International Auto Show in Detroit last January.
NEW YORK -- Tesla will be joining the Nasdaq 100 Index on Monday as software maker Oracle heads to the New York Stock Exchange.

Shares of Tesla Motors (TSLA) climbed $1.20, or 1 percent, to $122.77 in early trading Tuesday. Oracle (ORCL) stock was down 1.2 percent, or 35 cents, to $31.29.

Oracle announced its planned move to the NYSE in June. At the time, the NYSE said that it would be its largest market transfer listing to date. Oracle, based in Redwood Shores, Calif., will be the fourth Nasdaq 100 company to transfer to the NYSE in the past year. Its market capitalization was $146.5 billion at the end of trading Monday, according to FactSet.

Tesla, based in Palo Alto, Calif., has an approximately $12.8 billion market capitalization.

The company currently sells only the $70,000 Model S sedan, but its "X'' SUV is slated for the second half of 2014 and the "Gen III," which will be half the price of the Model S, is slated to hit the road in three or four years.

Tesla's stock has gotten a boost in recent months from positive Model S sales data. Its stock price has more than tripled since the first of the year.

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