American International Group (AIG) Closes Down On Rumor

American International Group (NYSE: AIG) closed down after a rumor began to spread about the company possibly announcing a stock offering.

The shares of the company were initially higher today and briefly traded in the $54/share range. However at 3pm the rumor broke of a possible secondary issuing of common stock, which sent the stock all the way down to $45.80/share, where it closed.

Volume was 3x normal at 122M shares.