Thomas Sobon
Momentum, special situations

RAIT's Turnaround Revisited

By Thomas E. Sobon

I try to keep readers informed about a stock I recommended here on Seeking Alpha so what follows is an update concerning the RAIT Financial Trust (NYSE:RAS). In effect, it builds upon the substance of the previous article "RAIT's Turnaround Gains Momentum" (dated Feb. 15, 2013) which was the second of three I wrote on the subject company.

On all three of those occasions I put "buy" recommendations on the stock. And being a practitioner of what I preach, I bought shares each time with my average cost being $6.05. The stock performed well in the market during the last six months but it couldn't push through to a new closing high...

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