Sunrise Senior Living surprises investors
Sunrise Senior Living, Inc. (NYSE:SRZ) surprised investors this morning when it opened really high at $2.74 and at the end of the day closed gaining more than a dollar per share (Up 66% in stock value). The stock was trading at $2.52 for for the last week and this morning it jumped higher than expected.
With the increase in share pricing, an increase was also seen in trading numbers. More than 6.83M shares were traded at the end of the day. Usually only about 434,000 shares are traded.
The company posted their Q2 2010 Earnings on Aug 5, and since then the stock has suffered, and it was traded at about $3 per share and since last month, today it opened higher and reached investors expectations.
The stock is set to follow the same pattern for the next month and possibly hit $4 mark possibly at the end of this month. Investors have given it buy rating.
