AMR Active on Juiced Secondary (AMR)

Posted in pre-market 
September 23rd, 2009

AMR Corp. (NYSE: AMR), the parent of American Airlines, is trading lower after it priced a 48+ million share secondary offering of common stock at $8.25.  This deal size was increased from 30 million shares and is being sold through Citigroup, Morgan Stanley and UBS.  At 8:30 AM EST we have shares down 1.4% at $8.32 on over 1.2 million shares.  Average volume is 10.3 million shares.  We would expect choppy high volume action in this as the size of the secondary is adding many new shares today. -JON OGG

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