Why the Stock of Bankrupt LATAM Airlines Jumped 55% Today
Shares of LATAM Airlines Group (NYSE: LTM), gutted by a bankruptcy filing last week, surged in Tuesday trading and were up a staggering 55% as of 2:42 p.m. EDT today. But the reason for this is not good.
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In LATAM's home country of Chile, The Santiago Times is reporting that COVID-19 infections are soaring, with 105,000 persons infected and more than 1,100 deaths. Brazil, meanwhile, has the highest incidence of coronavirus infections of any other country, barring only the U.S.
Source Fool.com