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Its stock’s price has soared 17.8% over the past month and 48.2% over the past three months to close yesterday’s trading session at $19.97, after hitting its 52-week high of $20.02.
Investors’ optimism surrounding CVA’s proposed sale to EQT Infrastructure is a key driver in the stock’s price rise. However, the proposed acquisition is subject to CVA shareholder approval and customary regulatory approvals, and the company is currently being investigated regarding the proposed sale. In addition, hedge fund sentiment in the stock remained unchanged in the first quarter. So, it’s uncertain if CVA can continue rallying in the near term.
