Did the AIG reverse stock split cause the plummet in its value?”
For those who commented that I didn’t know what I was talking about in my recent article about the AIG Reverse Stock Split of twenty to one, here’s what Jeanine Poggi of the Street.com said today of the split action, which has apparently gone through: “Meanwhile, investors are awaiting a reverse stock split that is expected to come into affect (sic) later today. This would mean if you own 1,000 shares you now own 50. AIG will initially multiply the share value by a like amount, so investors will retain their equity, but it’s unlikely they can grow their investment.” Almost verbatim (in context) of what I said in my “unprofessional” analysis published on Saturday. Interestingly, the number of hits on that article increased more than two-fold today, unfortunately too late for investors to vote against this ill-founded move. David Goldman of CNNMoney.Com said “Shares of AIG tumbled Tuesday afternoon after shareholders ratified a 20-1 reverse
