Last time I looked, AIG was trading almost at $24 post split date and now it is below $15. I think the shorts knew what they were doing, including me, although I purchased PUTS. I sold my PUTS when the stock went back to $12 and now I am back in on the Nov 15 PUTS.
This company has very negative news announcements almost daily and with the economic problems of the US and Obama as President and the Democrats in charge who we know hate success, I don't think it will take much for it to drop down a lot. However, I have a 20% stop set just in case.
BS, it means that "big boys" lost their big asses even BIGGER!
Its just dumb management after even dumber management. Fist of the company was totally Raped sideways by Greenberg, then you can bet government scumbags and buddies of Paulson had their interests, no AIG in mind, and finally they hire some Scientology Dude Liddy who Raped over Allstate to come in "temporarily" to screw over AIG with no personal stake in the outcome.
Its a mess and will likely have to go the way of GM. They will arrange a Bankrupcy, but give the Government a sweet deal while getting rid of all other sharholders. Just watch!