Fortress Investment Group Having A Huge Day (FIG)

Shares of Fortress Investment Group (NYSE: FIG) have jumped 11.09% in today's trading session. The shares are currently trading hands for $4.82 on the New York Stock Exchange. A total of 2.29 million shares have been traded compared to a daily average of 2.93 million. The asset management company currently has a market cap of $2.19 billion.

Fortress is a very distressed stock, having lost nearly 85% of its value since it's IPO in February of 2007. Today, however, Goldman Sachs (NYSE: GS) upgraded the shares from Neutral to Buy and raised its price target from $5 to $7.50.

Fortress Investment Group LLC (Fortress) is a global alternative asset manager that raises, invests and manages private equity funds, liquid hedge funds and hybrid funds.