Traders Back On the Fortress Investment (FIG) Bandwagon

Fortress Investment Group LLC (NYSE: FIG) is seeing upside action again today. Shares of up 10% to $4.71 after rising 10% yesterday. The stock is down 28% since announcing a share offering earlier in the month, which was priced at $5.

There may be a couple things today investors are reacting to:

1. In a 13D filing the company's largest class A shareholder Nomura Assets Management disclosed a lock-up agreement.

2. Reports the company is near an agreement to buy control of a Florida retail bank.

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