NEW YORK, April 21 (Reuters) - National City Corp (NCC.N: Quote, Profile, Research), a large U.S. Midwest regional bank, said on Monday it is raising $7 billion by selling shares as it posted a first-quarter loss and slashed its dividend. A dilutive capital raise, a weak first quarter and investor disappointment that the company was not selling itself after it said earlier this month it was reviewing strategic alternatives sent its shares down nearly 25 percent. Its at 6.00, any thoughts, looks cheap here imo.
I wouldn't touch that with a 10ft pole. Stock down 27% today. Chart looks ugly, couldn't look any worse. Be careful.
I was looking at the chart. You might be able to get a scalp on the way out of one of those dips. Looked like some were between .25-.50.