AIG moving again on huge volume for second day.
AIG will for a second day trade over 100 million shares (normal volume: 8 million!) Large intraday volatility again (high: $29.39, Low: $21.30). Stock was $13 two days ago.
The two theories is there has been big-time short covering on:
1) a belief that the company will announce a blow-out quarter tomorrow, and perhaps announce some kind of debt for equity swap; OR
2) stock lending desks are now making it more difficult to borrow--why? Yesterday's announcement that the government was banning naked short selling may be making lending desks more conservative.
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