What takes C over $5. or under 2 again?

Discussion in 'Stocks' started by myoffices, Apr 20, 2009.

  1. I am wondering what takes C over $5 per share so the funds can get to it. I looked at the earnings and so many things written of and yet they beat expectations. The conversion costs were in the EPS and hopefully as they go forward this will put them in strong hands.

    Is the writedown the major hold back or is it something else? Im curious as to the analysis of this stock.
  2. It´s Goldman´s assessment :

    April 20 (Bloomberg) -- Citigroup Inc.’s credit losses are growing at a “rapid rate,” undermining Chief Executive Officer Vikram Pandit’s efforts to stabilize the U.S. bank, according to Goldman Sachs Group Inc.

    While Citigroup posted first-quarter net income of $1.6 billion last week, the New York-based bank suffered an “underlying” loss of 38 cents a share, Richard Ramsden, a Goldman Sachs analyst, wrote in a research note dated yesterday. He repeated a “sell” rating on the stock.

    Citigroup, which received $45 billion in government aid, ended a five-quarter losing streak on trading gains and an accounting benefit for companies in distress. The bank, which cut compensation costs and took fewer writedowns, still reported higher delinquencies on home and credit-card loans.

    The results “included several one-time items which muddied the waters,” Ramsden wrote in the note. “The key question mark in our mind remains what Citi’s earnings power will be on the other side of the crisis.”

  3. A reverse split will take C over 5.
  4. Okay the only thing thats changed is perception. Im thinking that we are in for a dead cat bounce here. Could the range of these stocks be diluted when the major conversion comes. I am wondering if its a real rally or will it be short lived. What do you think. Im open for ideas.

    BTW Im up over 300% with the initial off the table and I wondering if the time to trade like a drunk at the roulette table is now.... CRAMER can you help me here...LOL
  5. look at selling some long dated calls just know you are giving away your upside. :)
  6. c chart 1st resistance at 4.30
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  7. As it approaches $5, people will want to push it above $5 so they can start trading it on margin.