Citi Group Shares $1.00!

Cnn.com is reporting that the once most powerful bank in the world, Citi Group's stock fell to $1.00 per share. Quite amazing isn't it? Thoughts?


&dist=msr_2]Citigro up shares fall below $1

BOSTON (MarketWatch) -- Citigroup Inc. shares dropped below a dollar on Thursday for the first time ever amid the latest sell-off in financial shares as investors questioned the future of the embattled banking giant.

shares touched a low of 97 cents in midday trading Thursday. The stock set an all-time high of $57 a share on Dec. 18, 2006.

Mod Edit: Source and Snippet added on behalf of OP.

[edit on 3-5-2009 by worldwatcher]

I have a thought. Time to buy some CitiBank. I'm willing to take a risk on this one.

I'm also tempted to buy Citi for $1.00 but then I think..
if's it's a dollar today, maybe tomorrow it will be 50 cents
Or maybe the stock might get removed from the DOW or there's a sudden change in policy and govt stops propping it and other banks up and I'm back to sitting here twiddling my thumbs and wondering what if...

btw, I recommend you search for a source and link it in your above post OP..
such as this one...
&dist=msr_2]Citigro up shares fall below $1


[edit on 3-5-2009 by worldwatcher]

reply to post by PammyK


Don't we taxpayers "own" 80 cents of that dollar?

WOW! We are just rolling in ..it.

And just think of the returns we'll get when it reaches $0.20.


I would rather invest in ___________. (anything else, but Citi)

This is true! But what happens if no one buys the stock? They take the money you gave them and take it home in their pockets? On the other hand, if many people buy the stock the bank could recover? Is this a correct senerio?

reply to post by worldwatcher
I am still too dense to "link." Many apologies for this inability. All that "paste" stuff is Greek to me!

I'd rather invest my money in something that I can control, instead of investing in a company which is controlled by people who have an agenda.

The only stocks I'll be buying any time soon are the stocks that my 401k are purchasing.
1 buck or not, I don't trust that ANY of these financial institutions are going to survive. If they do they will probably be absorbed into our wreckless Government and exist in name only.

I think their shares dropping that low are very telling. The financial markets are in ruin.

I am looking at it from this point of view. If the ecomomy does not improve, my US $'s may not be worth anything anyway. On the other hand, I could make a little profit if the economy improves and Citi becomes solvent again. I am nowhere near an expert in the market. I won't even claim to be a novice, but I know buying low can be a good thing.

If the economy improves, those of us that bought some shares while they are down could change our economic position. Maybe this is that redistribution of wealth that Obama was going on about.

I was just talking about this, I am seriously considering investing $500, just to see what happens. Thats not enough to break me, but could turn out to double or triple in the coming months... Or go to zero

-E-

Maybe they should change the name to Town Group or Village Group it certainly isn't worth being called Citi Group

Im not so sure about putting money into Citi. I don't think they will be around much longer. I think that their stock is going to devalue to junk status and pretty much you will see them disappear along with all the TARP funds and every-one's savings.

You're right. And I certainly don't like hearing this news on the heels of the anouncement that the FDIC will become insolvent soon.

I mean, they're getting to the point where they aren't even lubing us before they rape us.

You mention the FDIC. That certainly was alarming to me, too. I am having a difficult time deciding where to put my money. I've been moving to the Yen recently, but I don't even feel secure with that. Maybe I should have married that Chinese woman I once dated instead.

I remember a time when I never questioned the security of the U.S. economy. Now things are just too uncertain.

I don't even think Citi-town is right. More like Citi-Hood...

Part of the reason for the 'drop' in share cost for citigroup stock is because of the fact that they transfered 25 billion dollars in preferred stock into common stock.

I had heard about the piece below on the radio a couple weeks ago.

The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for as much as a 36 percent equity stake in the struggling bank, greatly increasing the risks to taxpayers as voter unhappiness about the broader bailout program rises.

Federal Government makes 3rd rescue attempt for Citigroup

IMO When the government starts publically investing in privately owned corporations it's a sign of really bad things to come. (putting it very mildly)

[edit on 5-3-2009 by cnichols]