AIG (AIG) Market Cap Swells To an Astonishing $110 Billion

With today's over 8 percent rise, AIG's (NYSE: AIG) market cap is now over $110 billion, which would make the company the 24th most valuable company in the S&P 500 if it were on the list.

AIG will soon exchange the government's preferred shares for common shares. Once this occurs the shares outstanding will swell to 1,870,067,064 shares.

The company's market cap is now more than market leaders like PepsiCo, Inc. (NYSE: PEP), Verizon (NYSE: VZ), ConocoPhillips (NYSE; COP), Hewlett-Packard (NYSE: HPQ), Goldman Sachs (NYSE: GS), Amazon.com (Nasdaq: AMZN) and McDonald's (NYSE: MCD) to name a few.

In fact, in the S&P 500 there are now only 23 companies worth more than AIG.

The stock is clearly not in reality and is being controlled by high frequency traders and large shareholder Bruce Berkowitz of Fairholme Capital, who controls over 30% of the float currently.

Once the government starts selling their shares, there could be different story developing.

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