Colorado Stark

Will Citigroup (NYSE:C) Become the Next Penny Stock?

by Colorado Stark April 18, 2008
Citigroup (NYSE:C , C message board) is (or was) the strongest financial institution in the world. But lately the very viability of the 196 year old institution has been brought into question. Today's earnings results while greeted with applause from last nights closing prices have not yet fundamentally changed market opinion on the stock.

Citigroup Center in New York City Depicted in this photo.
Last fall Citigroup shocked wall street analysts with catastrophic losses mounting to nearly $10 billion dollars. If not for a bailout by a certain Saudi Arabian prince who is also the largest shareholder, there is doubt as to whether the lights would have remained on.

The latest results were a loss of over 5 billion. This show some sign of improvement, but still the company continues to lose money at a pace of about $55 million US Dollars per day. But hey it beats last quarter where losses were over $100 million per day.

Analysts were expecting the loss to be about 5% smaller. Investors must have had less faith than that. This is evidenced by a positive reaction to the negative news. This morning, shares were up over 8% in pre market trading.
Colloquially speaking, today's announcement and reaction seem to be positive. However, the underlying questions about the ammount of further damage shares in Citi will suffer due to the US financial crisis still remains unanswered. And investors from 2007 are still sitting on a hefty 50% or so loss even with today's spike up in price.


Further Resources:

Comments 4

1. Guest
February 05, 2010, 02:33PM

Quotes He's the best at what he does. Very professional.

2. Guest
April 25, 2008, 08:45AM

Quotes MVTG targets the profits through

sustainability why donât

make your investment worth by

investing in MVTG.

3. Guest
April 25, 2008, 07:26AM

Quotes There is an strong expectations

that MVTG is going to announce a

acquisition which would be one of

the positive trigger for the

Company. SO get into the stock

before then..

4. Guest
April 24, 2008, 02:47AM

Quotes Mantra targets areas where the environment meets the economy and is identifying and acquiring technologies in the middle to advanced stages of development that have immediate and widespread industrial and consumer applications, will give profitable investment to its shareholders.

Type the characters that you see in the box (5 characters).