Rumors circulated today that the government would close its ownership of AIG on terms very favorable to the company. The stock spiked, and the shorts got squeezed. It closed up 14% at 389.22
Look, this is a garbage stock. Why it’s at $39.22 and not $7.00, where it belongs and where it was in March, is beyond me.
But that’s what happens when the government backstops a company then blows out the short sellers.
Well, someone started the rumors, tight?