Volume Spike Investor

BB&T Corp. (NYSE: BBT) is indicated lower in early trading.   The report came out after yesterday’s close that a 33.45 million share secondary offering was priced at $26.00 per share on Monday to raise close to $900 million and other stories morning’s reports noted that BB&T could raise $1 billion in the offering (presumably after the 5.01 million share over-allotment).  Shares closed at $27.53 yesterday. At 8:09 AM EST we have only seen 35,000 shares trade hands, and shares are only down about 1% at $27.30. Average volume is 9.9 million shares, and today is likely to be another exponential volume days for BB&T shares.

UPDATE At 9:55 AM EST we have shares down only 0.5% at $27.38 and volume is 2.4 million shares. Today’s volume is so far not representing the exponential volume of 43.3 million shares yesterday and 32.2 million shares on Friday.

-JON OGG