It belongs there nowadays.
Why, because AIG equity is very volatile? AIG ought to be volatile as either this is an enormous insurance company that was worth $200B not long ago or it’s an insolvent Chapter 11 filing. Really small changes in the probabilities of those things causes lots of volatility in equity prices.
A 270 percent swing in one day?? The MMs have gone crazy.
Well, suppose that it was as simple as I said (which it clearly isn’t) but that AIG was worth $200B or $0. If the market has it worth $10B right now, then it says this is 5%/95%. A change in probability from 7% to 3% means that the stock changes by 300%. With all the stuff going on with AIG today, that’s sort-of reasonable. I agree that there is certainly lots of day-trading silliness going on with this stock today though.
you can buy afterhours now for 2.2 / share… a 40% discount to the close… enjoy.