AIG Shares Surging On US Stake Update (AIG)
Shares of AIG are up to their old games of surging higher on seemingly endless bids with only a few key headlines moving the stock.
The company stated they plan to get rid of their US stake in the company in 1-2 years.. I guess this is if all cylinders fire and no speed bumps are hit… Also on Bloomberg TV the chairman of AIG says CEO Benmosche is “doing terrific”.
These comments are enough to move the stock over 7% higher? I guess so, though i believe its a lot of algo’s and momo chases because i have not forgotten how that stock can burn you badly if you are not careful. AIG has run into resistance at 52.45……
Also Fairholme Capital now holds a 28.6% stake in AIG according to Barrons
AS for other news. WHR had takeover chatter sending the stock to 88.27…..