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Tesla's Shanghai Gigafactory is expected to reopen on Monday following a closure related to the coronavirus outbreak, and it will receive government assistance to do so, Reuters reported.

Shares of Tesla gained as much as 9% in early trading Monday.

It was the latest wild swing for the stock following a week where it posted both double-digit gains and double-digit losses.

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Tesla's surging, again.

Shares of the Elon Musk-led automaker gained as much as 9% in early trading Monday, continuing to climb following a volatile week for the stock.

The gains were fueled by a Reuters report late Friday that the automaker's Shanghai factory would reopen on Monday following a closure due to the coronavirus epidemic. The company will also receive assistance from the Chinese government to resume production, according to the report.

"In view of the practical difficulties key manufacturing firms including Tesla have faced in resuming production, we will coordinate to make all efforts to help companies resume production as soon as possible," said Xu Wei, a spokesman for Shanghai's municipal government, according to Reuters.

Tesla announced on January 29 that it expected a production delay of a week and a half at the factory due to a government-ordered shutdown prompted by the coronavirus epidemic, which has killed more than 900 people.

The closure was expected to delay deliveries of some Model 3 sedans made at the factory, said Tao Lin, a Tesla vice president. Still, the shutdown and the delay were not expected to have a significant effect on the automaker's first-quarter financial results, as the Shanghai factory is not yet a major contributor to earnings, Zach Kirkhorn, Tesla's chief financial officer, said in late January.

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Tesla's stock has whipsawed lately. Last week, the stock posted double-digit gains on Monday and Tuesday and reached as high as $968.99 per share before falling 17% on Wednesday.

The stock has surged this year following positive earnings numbers and rosy forecasts for the automaker's growth.

It fell on fears that the stock's rapid climb was a bubble or that it was fueled by a short squeeze, when short-sellers stop betting against a stock as the price gains push losses to the limit. Tesla shares were also dragged lower when the coronavirus emerged and threatened production in China.

Tesla gained about 79% year-to-date through Friday's close.

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