Why American Equity Stock Jumped 29.5% This Week
Shares of American Equity Investment Life Holding (NYSE: AEL) soared this week as the stock price rose 29.5% this week as of 10 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence. American Equity is currently up about 15.5% year to date, trading at just under $53 per share.
The major markets were all up this week, too, as the S 500 climbed 2.1%, the Dow Jones Industrial Average rose 1.8%, and the Nasdaq Composite increased 2.1% as of Friday morning at 10 a.m. ET.
American Equity, based in West Des Moines, Iowa, is a leading provider of life insurance and fixed-index annuities. The stock price skyrocketed this week on the news that Brookfield Reinsurance (NYSE: BNRE) had made an offer to buy it on Tuesday.
Source Fool.com
