Why the hack is AIG stock going up?

AIG has got billions in US govt loans, and its not profitable and will not be profitable for some time and yet its stock climbed from $13 bucks to $22 a share on august 5, it doesnt make sense.Whats the reason behind this?

Answers

readytoretire answered a question in Financial Analysis.
2222 points

readytoretire answered 3 months ago …

The main reason appears to be a short squeeze. A competitor (Radian Group) did report better than expected results, and AIG is due to report Fri. It also announced the sale of some 20 companies, located in Europe. So a short squeeze seems to be the best bet.

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