Why AGNC Stock Jumped Higher on Tuesday
After a decline right after the opening bell, the share price of AGNC Investment (NASDAQ: AGNC) surged higher Tuesday. The price fell 4.2% shortly after the market opened but then jumped as high as 4.7% after 1 p.m. ET. At 1:40 p.m. ET, the stock price was up 3.2% to $7.86 per share. Year to date, AGNC is down roughly 47%.
The major stock market indexes were also up Tuesday, with the Russell 2000 small-cap index leading the way, up 2.6% at 3 p.m. ET.
The market reacted to AGNC Investment, a mortgage real estate investment trust (REIT), after it posted third-quarter earnings after market close on Monday. AGNC posted a $1.31 net loss, down from a $0.87 net loss last quarter and a $0.35 net gain in the third quarter of 2021.
Source Fool.com
