The perfect storm for Citigroup

www.cnbc.com...

"Citigroup's stock [C 4.71 -1.69 (-26.39%) ] plunged below $5—a 13-year low—and the banking giant's troubles may be just beginning.

Most institutional investors and pension funds are barred from owning stocks below $5. So if Citigroup's stock remains below that level, it could trigger a wave of selling that would send the share price even lower.

JK

reply to post by leo123


Saudi Prince buys 1% of the company and the stock tanks 20% ...

The whole idea was to show it's backed by some wealth...

Then again, collapsed oil prices might bankrupt the Saudis lol ..

Either way, Citi is nearing desperate mode.. firing 50k employees will not be enough to keep them above water for much longer.

I actually heard some talking heads on CNBS saying that they were having that weird deja vu feeling like when Bear, Lehman, and Wachovia collapsed about Citigroup. I dunno, they are probably in the "too big to fail" category, but hell anything could happen.