Discussion in 'Stocks' started by pumpanddumper, Apr 29, 2008.
DESTROY the common!
Great timing right before a fed pump and dump.
i blow dongs for not getting short when it bounced back above 26.....blaaaaaaaaaaaah
I hear ya. I had C on my screen today and watched it taper off. I'm pretty sure if I shorted, it would have risen.
looks like they are trying to compensate no dividend cut by diluting the shareholders like hell
2 weeks ago they said they didnt have to raise capital, now they have a $3 BILLION STOCK OFFERING. Come on WTF is this all about.....pathetic.
Market doesn't care about banks or the economy
What are you talking about . . . they sold $6 BILLION in preferred stock barely a week ago!
You obviously don't trade for a living. This must be some sort of a "hobby" for you in between your college classes or something.
Get in the "ballgame" will ya???
Well, here's the problem:
"Investors and analysts had thought last week's $6 billion sale of preferred stock had quenched Citigroup's capital thirst. But the company planned the common-stock sale as a companion to the preferred deal, the person said, even though Citigroup didn't mention the stock sale last week.
The $9 billion raised since the start of last week is the latest example of Citigroup's reversing past statements by executives since Vikram Pandit became chief executive in December. Earlier this spring, Mr. Crittenden said the company was well-positioned and didn't need more capital beyond the $30 billion it had raised at the time.
But April 18, when Citigroup reported a $5.1 billion first-quarter loss, Mr. Crittenden wouldn't rule out raising more capital. "The fact is you can never say never with regards to these things," he said."
And a somewhat comforting detail:
"People close to the situation said Citi had always planned to follow up its issuance of preferred shares with a sale of common stock to satisfy US rules requiring banks to have the bulk of their capital in common equity."
heh why I avoid finance stocks. Everyday a surprise, and those books, Too fucking complicated all kinds of shit down there lots of funkyness.
I stick to stuff I can understand, Those banks are too tricky for my tastes.
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