FIG Got Warm Reception on the Street in Debut

After priced at $18.50 the day before going public, shares of Fortress Investment Group opened up 89% and rose as high as $37.00 on Friday in the first day of trading. At the close of Friday’s session, the stock went up $12.50, or 67.6% to $31.00. The success of FIG’s IPO may serve as a barometer for more than a dozen hedge funds who are planning to sell their shares to the public in the next couple of years. As a Reuters article says

Fortress’ stock performance on Friday does indicate institutional and retail demand for the asset class at a time when the U.S. Securities and Exchange Commission is weighing new rules that will raise the net worth requirement to invest in the vehicles. The listing also gives anyone with a trading account and some cash the opportunity to do an end run around those SEC rules, which some experts hailed.

I will keep an eye on this stock see where it goes.

This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.

Author Info

This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

Comments are closed.