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Fortress Energy Up 23%, Among Most Active on TSX although no apparent fresh news

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Fortress Energy Inc. (FEI.TO) is up 3 cents or 23% and among the most actively traded stocks on the TSX today although there is no apparent fresh stock specific news driving it. More than 4 million FEI shares have changed hands.

Fortress, which sold most of its assets in August, posted a third-quarter loss in mid-November, although the shares rose after the results came out.

Reuters said at the time of the result that Fortress was reviewing its alternatives following the sale of most of its oil and gas properties. Reuters cited the company as saying it was still mulling over what to do with its assets, which included shares in Terra Energy (TT.TO) and two small biotech companies, surplus cash, and $55 million in tax writeoffs among other items.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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