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Stock Alert: Code Chain New Continent Surges To New 52-week High

Shares of Code Chain New Continent Ltd. (CCNC) are surging more than 226 percent or $2.49 in Monday's morning trade at $3.59, after touching a new 52-week high of $4.10 despite no company-specific news that could push the stock higher.

U.S. stocks are rising on Monday amid persistent optimism that lawmakers in Washington will ultimately reach an agreement on a new stimulus bill. Traders remain optimistic that House Speaker Nancy Pelosi and the White House will eventually reach an agreement, although it remains to be seen if the deal will have the support of Senate Majority Leader Mitch McConnell.

Code Chain New Continent is a China-based developer of solid waste recycling systems for the mining and industrial sectors in the People's Republic of China.

The stock has traded in a range of $0.70 to $4.10 in the past 52 weeks.

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