Tesla will be added to the S&P 500 index on Dec. 21.
Based on its market value Monday, the electric car maker would be one of the top 10 companies in the benchmark index upon entry.
S&P Dow Jones Indices made the announcement after the closing bell.
Tesla shares jumped nearly 11% in after-hours trading and have gained about 388% so far this year.
Tesla became eligible to join the S&P 500 after posting its fourth consecutive profit in the second quarter of this year.
However, it was not selected for inclusion in the index in September.
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