Tesla’s stock has gone up almost 700%. That’s huge considering the average stock market return is around 10% per year.

This week, Tesla started trading as part of the famous S&P 500. It’s a basket of some of the biggest publicly traded companies in America. Think Apple, Walmart or Johnson and Johnson. And because many Americans invest in funds that track the S&P, a whole lot more people now own a piece of Tesla — for better or worse.

Guests: Axios' Aja Whitaker-Moore and Alison Snyder and Nick Bloom, economics professor at Stanford University.

Credits: "Axios Today" is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Erica Pandey, Carol Wu, Cara Shillenn, Nuria Marquez Martinez, Dan Bobkoff, Sara Kehaulani Goo, Alex Sugiura and Naomi Shavin. Music is composed by Evan Viola. You can reach us at [email protected].

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