Tesla Inc’s stock surged 20% on Monday in its largest one-day gain since 2013, fueled by a quarterly profit at Panasonic’s battery business with the U.S. car maker and an investor report predicting its shares would rise more than ten-fold by 2024...

...Monday’s rise came after Panasonic Corp reported the first quarterly profit in its U.S. battery business with Tesla, which followed years of production troubles and delays.

“We are catching up as Tesla is quickly expanding production,” Panasonic Chief Financial Officer Hirokazu Umeda told an earnings briefing, referring to battery cell production.

“Higher production volume is helping to push down materials costs and erase losses..."

Tesla Shares Have LEGS, Gain A Whopping 20% Intraday! Wanna Know WHY?

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