Why Alset EHome International Stock Is Surging Today

Alset EHome International Inc AEI is trading significantly higher Monday morning after the company announced an agreement with Tesla Inc TSLA for 20 Ehomes.

What Happened: Alset EHome International announced a strategic agreement with Tesla for an initial supply of Tesla solar panels, powerwalls and EV chargers. The Tesla products will be installed in 20 of the company's single-family Ehomes in Texas. 

The company is targeting a total of 100 Ehome deliveries in 2021.

"Our plan is to develop over 5,000 intelligently designed Ehomes in the next 3-5 years. We are excited to develop the communities of the future in close collaboration with Tesla. Tesla's products are not only technologically superior but also aesthetically pleasing," said Chan Heng Fai, chairman and CEO of Alset EHome International.

Price Action: Alset EHome International has traded as high as $29.49 and as low as $3.40 over a 52-week period. 

At last check Monday, the stock was up 51.49% at $7.46.

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