AIG up 70% today?

Discussion in 'Stocks' started by Ivanovich, Mar 16, 2009.

  1. Granted it's only from .45 or to the daily high of $1, but still...what the hell did that?

    I'm one of those sorry S.O.B.'s that bought it at $3 and figured I'd hold the thing all the way down (see Seinfeld season 1, George goes "I'm going down with the ship, Jerry.")

    But this gives me some hope.

    Any news moving this? I can't seem to locate anything positive. Negative stories everywhere.
  2. Government (which owns ~80%) said it's pulling in its shares so they can't be borrowed for shorting.

    It's called a short-squeeze.

    Remember the Volkswagen/Porsche incident last year?
  3. Ah, so all those who were hoping to push it to zero are being squeezed back out.

    Thanks for the education. :O)