Its been a big week for the legendary Elon Musk, his personal fortune has ballooned by more than $15bn (£11.3bn). On Monday, it was announced that his car company Tesla has been accepted into the S&P 500, the major US stock market index. What an incredible achievement for a company that is relatively new and also relatively unproven in the long term.
What does this mean for traders? Well in all honestly probably not a lot. Except that TSLA is quite a volatile stock and is also going to be one of the 10 most valuable S&P stocks when it debuts. So in short? Yes, it could be massive for traders. Bringing a little more volatility to the S&P but not too much.
S&P volatility is something Inteligex traders like a little of - not too much but enough to give us a daily diet of 5-20 points profit.
Watch this space. It could be electric. (groan.....)