Stock Alert: Carver Bancorp Hits New 52-week High

(RTTNews) - Shares of Carver Bancorp Inc. (CARV) are surging more than $18.82 or 781 percent in Wednesday's morning trade at $21.23, after earlier touching a new 52-week high of $22.00 despite the absence of any stock-specific news.

New York-based Carver Bancorp is the holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services.

U.S. stocks are rising for a fourth straight day on Wednesday as investors shrugged off concerns about a second wave of coronavirus infections and instead, focused on a recent batch of upbeat U.S. economic data that has reinforced optimism about a quick recovery. Positive sentiment was also generated in reaction to a Bloomberg report indicating the Trump administration is preparing a nearly $1 trillion infrastructure proposal as part of an effort to support the economy following the coronavirus pandemic.

The stock has traded in a range of $1.25 to $20.50 in the past 52 weeks.