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Tesla shares soar by 17% on Elon Musk settlement

A Tesla showroom in New York City. Photo: Drew Angerer/Getty Images
Photo: Drew Angerer/Getty Images

Tesla stock surged 17% on Monday, wiping away major losses last week, after CEO Elon Musk reached a settlement with the U.S. Securities and Exchange Commission that required him to pay a $20 million fine and step down as chairman.

What's: Tesla's third-quarter vehicle production and delivery numbers are expected to be announced in days, and Q3 financial results will be reported in a few weeks.

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