Citigroup Drops Below $1
Thursday, March 5, 2009 11:27Shares of Citigroup “Broke the buck” today trading down below $1/share, the lowest in the history of the company. The stock traded at a high of $57 only 15 months ago and hit a low of 97 cents today.
Two weeks ago we warned that Citigroup and Bank of America would be taken over by the government within 60 days and mentioned the possibility of shareholder value being destroyed as in Fannie and Freddie.
Last week, after initial denials, Citi announced that the government was buying 36% of the common stock. Shareholders have essentially been wiped out. 
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watchman says:
March 5th, 2009 at 10:27 pm
Wow! We cannot solve a spiritual downfall of morality with carnal solutions. Can we ‘all’ stop for a moment and pray and read 2Chonicles 7:14 and Duet 8.