United Technologies (UTX) shares rose 1.7% to $18.85 on Wednesday after U.S. President Donald Trump announced he was ending the Obama administration’s climate change policies.
The company’s stock is up more than $1,200 since the beginning of the year.
The stock is trading at a discount of more than 20% from its opening price of $18,400 on Feb. 5, the day Trump’s executive order was issued.
On Tuesday, the Dow Jones Industrial Average briefly touched a record high, but the rally stalled after traders saw that the company was expected to file for bankruptcy protection.
On Wednesday, the company said it would seek bankruptcy protection in the U.K. and Ireland, citing “substantial” costs associated with complying with the orders.
The stock has been up more in the past 24 hours than it did during the week ending Feb. 4.
S stock rose 1% on Wednesday, its best gain since Dec. 29.
The company said Wednesday it would be filing for bankruptcy in the United Kingdom and Ireland.
It said it expects to file its application in the coming weeks, but has not yet provided any further details.
Shares of United Technologies have been up nearly $3,000 since the start of the day.
Shares in the technology giant surged as Trump announced the executive order.
The order, which also gave the president the power to suspend immigration from seven Muslim-majority countries, has caused a backlash in the country.
In a conference call with reporters Wednesday, Trump said the executive orders were “not a surprise.”
“I think I had to do it because we were in the midst of what was a really, really, a really difficult time,” Trump said.
Trump said he was acting on the advice of Vice President Mike Pence, the vice president’s chief of staff.
S said it had received a “credible” tip that U.C. Davis was under threat.
A statement from the company’s parent company, United Technologies, said the move was “not an action taken lightly” and was taken “on the basis of our long-term investments in innovation and product development.”
Shares of the company rose 1%.
The Dow Jones industrial average is up 6.3% in 2017.