Volume Spike Investor

AirTran Holdings Inc. (NYSE: AAI) is down over 12% on a secondary offering announcement.  This was as severely punished on a share offering of $75 million in convertible notes and stock offering that was meant to raise close to $55 million.  The shares fell by over 12% on the report, which must be over the discounting some feel was needed to raise cash.  As of 8:28 AM EST we have only seen some 15,000 shares and the stock is down 12% at $5.40.  But this traded almost 500,000 in the after-hours session last night. Average volume is 2.1 million shares.  Full details of last night’s offering are here.  JON OGG