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Swan Song: Citigroup

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Mike Kennedy

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http://www.washingtonpost.com/wp-dyn/content/article/2008/11/21/AR2008112100529.html?nav%3Dhcmoduletmv&sub=new

Investors dropped Citigroup's stock to $3.77 a share in trading yesterday on the New York Stock Exchange, the lowest price since 1992. Bank of America fell to $11.47, its lowest share price since 1995. J.P. Morgan Chase fell to $22.72, its lowest price since 2002.
Citigroup's stock price has little direct, short-term impact on the company. The concern, however, is that Citigroup's customers and business partners will accept the stock market's judgment about the company's health and will begin to withdraw and withhold money from the bank. A similar process has driven other banks to the point of collapse, including Washington Mutual, Wachovia and National City.
 

Lloyd Bonafide

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Citigroup's stock price has little direct, short-term impact on the company
.

Some mutual funds have self-imposed rules against owning stocks that are priced under $5 per share. So it's possible that there will be a lot of sellers of Citi stock this week.
 

Restrain

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Word has it that Citi will be taken over sometime this weekend. Check the chart on Citi in the Housing Bubble thread. They're essentially bankrupt.
 

Doug Wegener

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Citi

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/21/AR2008112100529.html?nav%3Dhcmoduletmv&sub=new

Investors dropped Citigroup's stock to $3.77 a share in trading yesterday on the New York Stock Exchange, the lowest price since 1992. Bank of America fell to $11.47, its lowest share price since 1995. J.P. Morgan Chase fell to $22.72, its lowest price since 2002.
Citigroup's stock price has little direct, short-term impact on the company. The concern, however, is that Citigroup's customers and business partners will accept the stock market's judgment about the company's health and will begin to withdraw and withhold money from the bank. A similar process has driven other banks to the point of collapse, including Washington Mutual, Wachovia and National City.

Nope. Too big to fail. Bought some stock Friday
 

Mike Kennedy

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http://www.marketwatch.com/News/Story/us-agrees-bail-out-citigroup/story.aspx?guid=%7B15A026EC%2DCEA0%2D4C82%2D92EC%2D199B794F0968%7D

Last update: 8:26 a.m. EST Nov. 24, 2008
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NEW YORK (MarketWatch) - Citigroup shares jumped by more than 50% Monday morning after the U.S. government agreed to rescue the nation's once largest bank and the pioneer of the one-stop-shop for business and consumer financial services in an eleventh-hour, $326 billion plan to avoid financial collapse.
 

Lloyd Bonafide

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I had full faith that the Feds would step in to bail out Citi, and save my accumulated Citi Thankyou points on my accounts!! All is good!!


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smanion

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Bush announced the bailout of Citi Group Late Sunday. I immediately placed on line limit orders for open of trading on Monday to buy 3,000 shares at 7.00, 7,000 at 6.00, 11,000 @ 5.00, 15,000 @ 4.00 and etc. down to 26,000 @ 1.00. Only the orders @ 7.00 and 6.00 executed, both at 6.00. I got 10,000 shares @ 6.00, 60,000.00 total. Latest after hours trading shows it at 8.33, or 83,300. A 23,300 gain in 5 days and rising. I think t will zig-zag up to 14.00 in 2 or 3 months and 20 in less than 7 months. The moral of this story is if you are going to prognosticate on individual stocks you must be very, very current on the financial news. People who dumped Citi on Monday morning without checking on Sunday evening developements lost their a**es.
 

Mike Kennedy

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"A 23,300 gain in 5 days and rising" - Speculation always does that.


"eleventh-hour, $326 billion plan to avoid financial collapse."

$40 Billion Cash infusion is a spit in the bucket given their true financial position. The real question is - will they get a second round of "bandages" or not.

doubt it.

http://www.citigroup.com/citi/press/2008/081124a.htm
 
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Terrel L. Shields

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The financials and autos are day trading heaven. Certainly nothing to hold casually in your portfolio. I pulled my money from the market and bought a race horse. I don't like risky investments. :rof:
 
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