2/10, 4:51 PM (Source: TeleTrader)
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Chart for: Tesla, Inc.

Tesla shares rise on reopening of Shanghai operations

The shares of Tesla climbed in early trading on Monday, boosted by the resumption of its operations at its Shanghai factory, a turnaround of the previous announcement that the delivery of Model 3 assembled at the Shanghai Gigafactory would be delayed due to the outbreak of coronavirus.

Earlier last week, Tesla's vice president Tao Lin then said that it "will catch up the production line once the outbreak situation gets better." While last month the Chinese government has ordered the shutdown of Tesla’s new factory in Shanghai over coronavirus fears.

Tesla's stock moved up 2.7% to $769 per share at 10:49 ET on Monday.

Breaking the News / BJ