Sounds like this may happen again. Similar scenario.
NEW YORK (MarketWatch) -- Investors who were short shares of American International Group before a recent 20-for-1 reverse stock split are scrambling Wednesday to buy scarce shares to cover, driving the stock up more than 50%, according to Miller Tabak analyst Peter Bookvar. Bookvar said he's seeing a similar situation with shares of Georgia Gulf Corp, which also recently did a large reverse split. "GGC is another stock that had this big reverse stock split, and its stock went from $7 to $36 in five trading days. It's another example of where the float has dramatically shrunk, and now there's a massive short squeeze going on," Bookvar said. "There is certainly no news to account for it (AIG's stock move), he added.
