Why KKR Stock Rocketed Almost 5% Higher Today

The equity of sturdy investment company KKR (NYSE: KKR) made for a fine investment all its own on Tuesday. Its stock price leaped by nearly 5% that trading session, thanks to news of a big institutional investor's reversal on a planned sale (which likely would have pushed the stock's price down). KKR's share gain easily beat the slightly over 1% advance of the S&P 500 index.That sizable investor is China Investment Corporation (CIC), the country's sovereign wealth fund. Before market open, Bloomberg, citing unidentified "people familiar with the deal," reported that CIC has canceled a planned sale of several stakes it held in U.S. investment management companies. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool