Shares of China-based funeral company are surging as Covid infections spike

Workers in protective gear handle a coffin and coffin case at Dongjiao Funeral Parlor, reportedly designated to handle Covid fatalities, in Beijing, China, on Monday, Dec. 19, 2022.

The shares of China's biggest cemetery operator and funeral service rose to their highest level in more than a year as the country struggles with a wave of Covid infections.

The country abruptly ended most of its Covid control measures and saw case numbers surge, leading to a surge in Fu Shou Yuan International Group stock prices.

As of November, Fu Shou Yuan International Group's shares were down 40% for the year, but they're on track for a 15% year-to-date gain.

The company has a market cap of more than $2 billion.

In December of 2010 a group of executives visited the main cemetery of Fu Shou Yuan in China and agreed to purchase $25 million worth of shares in order to go public.