Carver Bancorp Spikes After Kamala Harris Is Named Biden's VP Pick

Carver Bancorp CARV shares are trading higher Joe Biden named Kamala Harris as his vice presidential running mate. She previously indicated she would invest in Black entrepreneurs via increasing access to credit.

The company has seen increased interest as people invest money into Black-owned businesses. Harris indicated her interest in helping Black entrepreneurs in a tweet during her presidential campaign.

When elected president, I'll invest $12 billion in Black entrepreneurs by increasing access to credit and capital through direct federal grants. Together, we can create opportunity for Black entrepreneurs to grow the small business engine of our economy.

— Kamala Harris (@KamalaHarris) July 26, 2019

Carver Bancorp is a holding company and conducts its business as a unitary saving and loan holding firm and the business of the company consists of the operation of its subsidiary.

Carver Bancorp was trading 17% higher at $7.92 in Tuesday's after-hours session. The stock has a 52-week high of $22.97 and a 52-week low of $1.25.