Canadian Pacific Railway (NYSE:CP) stock has been rising since Russia invaded Ukraine. CP stock was due to open March 11 at $77.79, up from below $69 at the start of the month. They’re now up 8% so far this year.
Canadian Pacific investors have been hoping for gains ever since the company announced its deal to buy the Kansas City Southern line last September. That deal ended a six-month pursuit, which also included the rival Canadian National Railway (NYSE:CNI), whose effort to top CP’s bid was denied by a court.
Now both Canadian railroads are rising, as Canadian grain and national resources are seen as much more valuable in the wake of the Russian invasion.
Read more about CP stock here.
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