Plus   Neg

Stock Alert: AG Mortgage Investment Trust Surges 64%

Shares of AG Mortgage Investment Trust Inc. (MITT) are currently surging more than 64 percent in Thursday's trading at $4.20, recovering from sharp losses earlier this week after the company said it did not expect to be able to fund the anticipated volume of future margin calls due to market disruptions created by the coronavirus pandemic.

The shares have traded in a range of $2.00 to $17.32 in the past 52 weeks.

According to reports on Wednesday, AG Mortgage Investment Trust has filed a lawsuit against Royal Bank of Canada (RY,RY.TO) over commercial mortgage-backed securities margin calls. The company reportedly asked the court to prevent the bank from auctioning off about $11 million of the trust's assets.

Monday, AG Mortgage Investment Trust expressed its inability to fund the expected volume of future margin calls in the near-term.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until March 31 in response to lower travel demand due to the coronavirus pandemic. This means that travelers are provided additional flexibility by not asking them to pay penalties for changing the origin and destination cities. Lancaster Foods LLC has recalled certain conventional processed butternut squash items citing the potential to be contaminated with Listeria Monocytogenes, the U.S. Food and Drug Administration said. The products recalled included Autumn Medley, Butternut Squash Noodles, Butternut Squash Planks, Squash Noodle Medley, Butternut Squash Chunks, and Veggie Rice Blend in various measures. Amazon.com Inc. has offered to help the newly sworn-in US President Joe Biden with speedy delivery of Covid-19 vaccines across the United States amid the ongoing pandemic crisis. The e-commerce giant, whose majority of workers are in the frontline of the pandemic, reiterated its request to prioritize its essential workers to receive the vaccines at the earliest appropriate time.
Follow RTT