The coronavirus pandemic may have come as a hammer blow for aircraft engine manufacturer Rolls Royce Holdings Inc (OTCMKTS:RLLCF) but it seems that the company is on the path towards recovery.
On Monday, the Rolls Royce stock emerged as one of the notable gainers and surged by as much as 23% as investors piled on to it. The reason behind the optimism is understandable. Last month it emerged that the company is scaling up its production efforts since it expects that a recovery is in the horizon in the aerospace industry. Last month, the company also opened up its new jet engine test bed located in Derby that had been developed for $90 million.
It is a significant development since the test bed had been developed by the company over a period of three years and at this point, it is regarded as the most technology advanced test bed of its nature in the globe. The company is going to test its Trent 1000 and Trent XWB engines at the test bed. However, in addition to that, Rolls Royce is also going to test the next generation gas turbine engines that it is developing. Investors could do well to keep track of the stock this week.
Market Reaction:
On Monday, RLLCF stock jumped by 23% to $0.0371 with more than 32.18 million shares, compared to its average volume of 13.76 million shares. The stock has moved within a range of $0.0300 – 0.0440 after opening the trade at $0.0440. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1006.
 Stock Gains Further Momentum: What Next?){kind=link}