NEW YORK For the second straight day, the trading volume on Interpublic Group stock flew off the chart. On Tuesday, the volume skyrocketed to 38.9 million, more than 15 times the stock's average volume of 2.5 million.
During the course of Tuesday, the share price fluctuated between $7.81 and $8.14 before closing at $8.01--the same price it closed at on Monday, when the volume reached 21.7 million. The high-volume trading comes as IPG raises $700 million through the sale of convertible notes.
Tuesday's volume was more than five times the average volume of IBM.