ok, so let me get this straight: Citibank, the largest capitalised bank in the world, backed by the US government itself to the tune of what, $10T+ in derivatives guarantees, 10%+ owned by the Saudi Prince himself, the biggest hedge funds out there buying up hundreds of millions of shares in their portfolios, a bank with assets in every country, every industry, every man, woman and child in the world somehow connected to it, is not going to be worth a measly $1T someday. O.K. OF COURSE THE STOCK IS GOING TO BE REVERSE SPLIT. at $4 today, leveraged at even money or better, $10 a share is one hell of a sweet payoff. i'm all in.
Here is why Hedge Funds are actively buying 'Citigroup' http://www.cnbc.com/id/37496005 (From Fastmoney on CNBC) Citigroup Daily Chart with ABC Bullish pattern with Price/Time Targets... Regards, Suri
Anybody long C has one hope: massive share buybacks. With all the money we've been printing lately, inflation will come sooner or later. "Toxic assets" are keeping the stock price price down right now, and will be lifted with the inflation tide to become massively profitable. Rather than disperse gains as dividends and subject shareholders to double taxation, C will just buy back stock. I just talked myself into a long position here..
Well I for one would rather be in Silver or Gold stocks. I like SLW. But C is ok but so much outstanding shares , it could go up to 20 one day don't really see it at 50.
You do realize that they reduce the outstanding shares by the ratio on the reverse-split, right? Who cares if they do a reverse split, it has zero-impact on market cap. JPM, WFC and BAC are all larger in capitalization, and that's just in the US.
My favourite trading guru comes out with a zinger. No, thanks, Prof., for explaining that to me. I had no absolutely no idea that's how it worked, or that C wasn't the biggest piece of crap among the five of them. Makes me feel all warm and fuzzy inside knowing there are better US banks out there in which to invest my kids' college money. I'm going to reallocate my portfolio now that you've shown me the light. Folding on C...