Stocks On The Move - August 6

Stocks Rise on Heavy Volumn:

• RAIT Financial Trust (RAS): before 12 pm today, it looked as if it would be another bloody day today for the REIT company. However in the afternoon the stock made an dramatic swing from new 52 week low of $4.82 all the way to an amazing 58.23% gain and finished at $10 per share. The last minute push send the stock from $8 all the way to $10. With such big gain with short time, people began to unload some shares in the after hour for profit taking and send the stock back below $9 per share. The stock was the leading gaineron NYSE today with 20 million shares traded.
• Fremont General Corporation (FMT): another hard-beaten subprime loan company making a comeback today is Fremont General Corp. After free fall of price in July, the stock finally rebound a little bit with a 17.59% gain to $5.28 per share. The stock was the fourth leading gainer on NYSE today with 5.9 million shares traded.

Stock Drop on Heavy Volumn:

• Harmony Gold Mining Co. Ltd. (HMY): the disappointing third quarter forecast and the resignation of the chief executive officer triggerred the sell off of the gold mining company. Shares plunged to as low as $10.87 per share, the new 52 weeks low, and then holding up a little bit and ended the day at $11.02 per share, a 18.19% drop. The stock however was the fifth leading decliner on NYSE today with 9.6 million shares traded.