Tesla is readying for inclusion in the S&P 500 by expanding its stock availability.

Tesla, currently ranked as the sixth highest-valued publicly traded company in the US, is set to join the S&P 500 index on December 21. To align with this significant move, the company is increasing its pool of available shares to give potential investors a chance to participate.

In a recent announcement, Tesla revealed its plan to release an additional $5 billion in shares on the market. The timing of this move appears opportune, given Tesla’s recent consistent growth. Over the past week, Tesla’s stock price surged by 12.8%, hitting an all-time high of $641.76 per share on Monday. This surge propelled Tesla to its current status as the sixth most valuable US company, boasting a market capitalization of $608.3 billion.

Shortly after the news of the additional shares, Tesla’s value experienced a slight dip of 1.8%, reducing its market capitalization to $597.1 billion. This decrease is reasonable, considering that an influx of new shares can impact the value of existing ones. With Tesla’s stock value up by an impressive 652.9% overall, this setback is relatively minor.

Many investors support Tesla’s decision to expand its shares. Wedbush analyst Dan Ives commented, “We believe this is the strategic move at the opportune time for Musk & Co. following the sharp rise in shares, with strong investor interest in leveraging the transformative EV trend through Tesla in the years ahead.”