Shareholders of Prudential Financial Inc (NYSE: PRU) do not have much to cheer about after Friday the company announced it would sell stock at $54.50 per share to help finance the purchase of two American International Group (NYSE: AIG) units. The company sold 18.3 million shares at $54.50 per share, putting continued selling pressure on the stock. This helped the company raise nearly $1 billion with the swipe of a pen.The company bought these two units from American International Group (AIG) for $4.8 billion back in September of this year.
It’s too soon to tell the impact this will have on shares of Prudential Financial (PRU) going forward, but the best way to tell may lie within a picture of the supply and demand for the shares. Some people call this picture a stock chart, we like to call it a graphical look at supply and demand forces in action.Prudential Financial Weekly Stock Outlook
Source: Shane Edmund Group LLC
Disclosure: No positions in those mentioned.