Marshall & Ilsley Already Exponential Volume Mover (MI)

Posted in block volume, General 
October 22nd, 2009

Marshall & Ilsley Corporation (NYSE: MI) has already gone exponential in its trading volume and it is only 9:36 AM EST.  At 9:36 we have seen a whopping 27 million shares trade hands versus 8 million on average.  The financial services company priced a 136 million share secondary offering at $5.75 per share after a $6.01 close to raise some $782 million.  Morgan Stanley and Bank of America Merrill Lynch were underwriters here.  Expect M&I to be the biggest stealth volume trader all day and we’ve already seen a trading range of $5.85 to $6.07.  Because of the low stock price, you are also seeing big blocks. -JON OGG

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