Price/Volume Surge: Gramercy Capital (GKK)

Posted in General 
October 31st, 2008

Gramercy Capital Corp. (NYSE: GKK) is actually the number one percentage gainer at the NYSE today for any stocks that are active in trading volume.  Yesterday the company said that its FFO rose and that it was suspending its dividend.  traders had bid this one up pre-market in pre-market trading indications and it has continued its surge.

Shares are up 55% at $2.35 at 9:57 and we have just seen over 1 million shares trade hands.  The stock’s trading range over the last year is $0.66 to $28.51.

Traders are buying up a beaten up and down-and-out REIT which has been crushed over its investment activities in mortgage investments.

Jon C. Ogg
October 31, 2008

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