Stock Alert: AG Mortgage Investment Trust Surges 64%

(RTTNews) - 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.