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Strange Action on GGP Stock

General Growth's stock surged big time today at one point hitting $1.36 per share--the first time its stock has traded north of a $1.00 per share since late January. There has also been tremendous volume today on the stock.

The action is so unusual that General Growth had to put out a statement saying that it had no idea why its stock had surged so much. At one point, it was up 89 percent on the day.

The stock fell a bit after that statement came out. It closed at $0.97 per share (and is up slightly in after hours trading). That still represents a 36 percent one day jump in the stock.

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