Why Annaly Capital Management Stock Rose 5.9% on Tuesday
Annaly Capital Management (NYSE: NLY) stumbled out of the gates on Tuesday, dropping 2.3% shortly after the opening bell, but then charged higher as the day progressed. At the closing bell, it finished the day up 5.9% to $17.68 per share.
It was a good day for the markets as the Dow Jones Industrial Average was up 337 points (1.1%), the S&P 500 gained 62 points (1.6%), and the Nasdaq Composite jumped 247 points (2.3%). Small caps were the biggest gainers as the Russell 2000 finished the day up 48 points (2.8%).
It has been a difficult year for mortgage real estate investment trusts (REIT), like Annaly Capital, given the state of the housing market.
Source Fool.com
