American International Group Inc (NYSE: AIG)
American International Group is having a pretty strong day in the pre-market hours today, and for good reason. It looks like a CEO shakeup is about to take place at the company and that seems to be exciting investors. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to AIG ahead.
What We’re Seeing From AIG
As mentioned above, American International Group is having a pretty strong start in the pre-market hours today. Minutes ago, the company announced some important CEO news, leading to excitement in the stock. Since the announcement, the stock has been headed up. Currently (8:19), AIG is trading at $64.65 per share after a gain of $1.21 per share or 1.91% thus far today.
Why The Stock Is Headed Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on AIG. As soon as we received the alert, the CNA Finance team started digging to see exactly why the stock was making a run for the top. It felt as though it took no time at all to dig up the story. The gains seem to be the result of a CEO shakeup that’s happening at the company.
Early this morning, Peter Hancock, CEO at American International Group, announced that he will be resigning from his position following pressure from investors. While Hancock will stay in his position until a successor is found, investors seem to be excited that he is stepping down. As a result, this excitement is leading to gains in the value of the stock.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching AIG incredibly closely. While we’ll be looking for several things, the most pressing factor at the moment is who will take over the role as CEO at the company. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!
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[Image Courtesy of Wikimedia]