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Music moguls JAY-Z and Beyoncé might want to pat themselves on the back right about now. The Tesla owners can now smile from cheek to cheek as reports claim the company’s stock surged sky-high.

Big Facts: According to reports, stock exploded Monday following the Carters recently getting spotted in a Tesla and some positive company news.

The company’s share price topped out at $786 — a record — just after midday before sliding slightly to end the day at $780, nearly a 20 percent gain from Friday’s closing price, $650.57. Shares were up again on Tuesday, rising more than 10 percent in premarket trading. The rise followed positive developments related to Tesla’s battery suppliers and a pair of optimistic analyst forecasts. On Monday, Panasonic said its joint battery venture with Tesla had turned a profit for the first time in the final quarter of 2019, according to Reuters, while a Chinese manufacturer of electric vehicle batteries, CATL, said it had signed a supplier agreement with Tesla, which recently started delivering vehicles built at its Shanghai factory. (New York Times)

On A Related Note: A few days ago, the Carters made headlines after getting spotted in a Tesla Model X.

Wait, There’s More: Back in 2014, media outlets suggested JAY had low-key added a Tesla to his line-up of luxury vehicles.

It appears that celebrity musician and promoter Jay Z has added an electric car to his stable of luxury rides. At least, that’s the so-far-unconfirmed inference from a photo posted in late April to his wife Beyonce’s website. We’re inclined to agree with Complex, though, which said: “Although we can’t officially confirm it’s his, we doubt he’d stunt with a car he doesn’t own.” (Green Car Reports)

Before You Go: Over the past few years, hip-hop artists like 2 Chainz and Jaden Smith have shared their love for Tesla.

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