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American International Group (NYSE: AIG) has pulled itself out of penny-stock territory after its shareholders approved a 1-for-20 reverse stock split on Tuesday. However, the shares are swallowing some losses today nonetheless, as investors reshuffle their portfolios following the adjustment. AIG opened today at $19.65 after falling as low as $13 in premarket action.

CEO Edward Liddy reassured shareholders at the company's annual meeting that he's confident a new CEO and chairman will be named shortly. The bailed-out insurance issue also named some new directors to its board, at least seven of whom were recommended and approved by the U.S. Treasury Department or its trustees.

Continue reading AIG sinks on 1-for-20 reverse split; what about the options?

AIG sinks on 1-for-20 reverse split; what about the options? originally appeared on BloggingStocks on Wed, 01 Jul 2009 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AIGAmerican International Groupboard of directorsEdward Liddyfeaturedinthenewsoptionsreverse splitshareholdersWed, 01 Jul 2009 11:40:00 EST<![CDATA[General Motors' reverse split plan suggests a bleak outlook]]>http://www.bloggingstocks.com/2009/05/06/general-motors-reverse-split-plan-suggests-a-bleak-outlook/http://www.bloggingstocks.com/2009/05/06/general-motors-reverse-split-plan-suggests-a-bleak-outlook/http://www.bloggingstocks.com/2009/05/06/general-motors-reverse-split-plan-suggests-a-bleak-outlook/#commentsFiled under:

If you can't get the stock price to go up, you can always try playing the Jedi mind trick game of stock splits, reverse splits and stock dividends.

In a filing with the SEC, General Motors (NYSE: GM) disclosed its plan to effect a 1-for-100 reverse split of its common stock. The plan is part of an agreement with the Treasury Department that would give the United States government a majority stake in GM in exchange for taking on the company's debt obligations.

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General Motors' reverse split plan suggests a bleak outlook originally appeared on BloggingStocks on Wed, 06 May 2009 08:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>General MotorsGeneralMotorsGMinthenewsReverse SplitReverseSplitSplitWed, 06 May 2009 08:30:00 EST