Why Tesla Stock Jumped on Monday

Shares of Tesla (NASDAQ: TSLA) rose sharply on Monday. The automaker's stock increased as much as 5.3% before easing to a 4.5% gain as of 11 a.m. ET.

The growth stock's sharp gain was likely due to reports over the weekend that Tesla is set to begin production at its new factory in Germany by next month. An upbeat day for the overall market today is likely helping as well.

A Tesla factory. Image source: The Motley Fool.

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Source Fool.com