[Focus Stock] Paru Jumps 28% Early in Session on Solar Hopes as Musk Draws Attention

Also Closed at the Upper Price Limit in the Previous Session

Paru is surging, jumping 28% on expectations for the solar power industry.

As of 9:20 a.m. on the 5th, Paru was trading at 1,296 won on the Korea Exchange, up 28.19% from the previous session. Paru had also closed at the upper price limit the previous day.

The rally is seen as being driven by optimism about the solar power industry, fueled in part by remarks from Tesla CEO Elon Musk. Musk's SpaceX is pursuing a strategy to produce and supply electricity directly in outer space through a solar power-based satellite constellation. He has also stated that the goal is to increase Tesla and SpaceX's combined annual solar power production capacity to a total of 200 GW by 2028.

In addition, it was reported that the Tesla team and SpaceX team dispatched by Musk visited several local solar power companies in China the previous day.

Jeon Uje, an analyst at KB Securities, said in a report, "Musk has presented overly ambitious targets in the past, so there is doubt about the feasibility, but it is clear that solar power, electric vehicles, AI, robots, and space are all interconnected in his future plans."

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