Why Abacus Global Management Stock Inched Higher Today
Abacus Global Management (NYSE: ABX) stock ended Monday in positive territory on news that it had secured tens of millions of dollars in new funding and on the apparently smooth transition of an outgoing company official.
Shares of the alternative asset management company focused on insurance policies closed that trading session more than 1% higher, eking out a win over the S&P 500 index, which rose by 0.7%.
Just before last week's Friday trading holiday, Abacus divulged in a regulatory filing that it managed to upsize an existing syndicated credit facility, and at quite a substantial amount.
Source Fool.com
