Here's Why Genworth Financial Is Soaring Today

Thursday is shaping up to be a relatively calm day for the stock market, but one stock that is seeing a major upside move is Genworth Financial (NYSE: GNW). As of 10:45 EDT, the mortgage and long-term care insurance company was higher by nearly 16%.

Since the COVID-19 pandemic and recession hit, Genworth investors have been wondering about the company's pending sale to China Oceanwide Holdings. The deal has been delayed 14 times over the past few years, and most of the regulatory hurdles have now been cleared, but there has been skepticism that the deal will be finalized at all, particularly because of concerns regarding financing.

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Source Fool.com