KKR Stock Surges After Hiring New Senior Advisor and Planning To Acquire Global Atlantic

On Tuesday NYSE: KKR fell 2.47% to $30.80 with the daily volume of 2,741,710 shares. Now it is growing by at least 8%. What has caused this move?

To run the business smoothly in Europe KKR appointed Simon Marrison as a Senior Advisor which will be in effect on September 7th, 2020. Mr. Marrison is going to retire from the post of Chairman of LaSalle Investment Management’s European business in July, working as CEO between 2001 and 2019 for Europe.

Moreover, KKR announced acquiring of Global Atlantic Financial Group that operates in life insurance, education financing, and annuities fields. This strategy may strengthen its foothold in the insurance industry mostly.

KKR’s daily trading volume may increase by making a market cap bigger than 27.813 billion. It depends on demand from visionary investors who believe KKR’s earnings will always rise.