Thursday, January 15, 2015

After Forest City REIT announcement, huge jump in trading, share price

The announcement that Forest City Enterprises would become a dividend-paying real estate investment trust (REIT) generated big buzz and success on Wall Street yesterday, as Bloomberg Businessweek reported it among the ten biggest volume gainers, as well as leaping in value:
Forest City Enterprises Inc. class A : Approximately 7,141,200 shares changed hands, a 536.9 percent increase over its 65-day average volume. The shares rose $2.51 or 11.3 percent to $24.72.

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