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Rolls-Royce Share Price Gains Nearly 100% in Two Days. Here’s Why

Analyst Team trader
Updated 10 Nov 2020

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Shares of Rolls-Royce PLC (LON: RR.) are up over 25% today after positive Covid-19 vaccine news and a new contract for management of nuclear sites.

Pfizer and BioNTech presented Phase 3 initial results yesterday which showed that their vaccine candidate delivered the efficacy of more than 90%. As a result, global equities exploded higher with sectors that suffered the biggest losses leading the recovery.

Moreover, Rolls-Royce said it signed a memorandum of understanding (MoU) with Exelon Generation for the management of compact nuclear power stations in the UK and globally.

“We believe that SMRs [small modular reactors] are a crucial part of the world’s clean energy mix,” Exelon Generation executive vice-president and COO Bryan Hanson said.

“With our experience both in the US and internationally, Exelon is confident that we can help Rolls Royce ensure SMRs play a key role in the UK’s energy future.”

Earlier this year, Rolls-Royce confirmed its participation in a consortium to build and install SMRs on former nuclear sites by 2029.

Rolls-Royce stock price exploded higher on positive fundamental developments

Rolls-Royce share price initially gained 99% yesterday to double its market capitalization. Shares pulled back in the afternoon to close the day 43.76% higher. Today’s rally has added a further 26% to this rally as RR now trading around the 125p mark.


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.