Why Blackstone Stock Rocketed Nearly 30% in January

Why Blackstone Stock Rocketed Nearly 30% in January

Shares of Blackstone (NYSE: BX) rallied 29.3% in January, according to data provided by S&P Global Market Intelligence. The leading alternative asset manager benefited from securing a major investment for its non-traded REIT, Blackstone Real Estate Income Trust (BREIT), which had been weighing on its stock following a surge in redemption requests. Blackstone also reported strong fourth-quarter results last month.