Why American Water Works Stock Shot Up 14.5% in July

What happened
Shares of American Water Works(NYSE:AWK) rallied 14.5% in July, according to data provided by S&P Global Market Intelligence. As a typically defensive utility stock, the water and wastewater services company found favor with investors even as fears of COVID-19 pandemic’s impact on global economies loomed large. With the company’s earnings also around the corner, the market remained optimistic.
Although the pandemic added to the company’s costs as it implemented safety measure…

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