Why buy it? Every tick down is a 1% move at this point. You can easily lose half of your investment fast if it dropped to .50 Remember it is a PENNY STOCK. Just beacuse it is Citi and not just some crappy dot commer doesn't mean you should look at it differently. It is what it is - crap!
On the flip side, every tick up is a 1% gain and you could easily double your money if the gov't makes some announcement that even smells favorable....not saying that I would touch it, just saying I'm just hoping my Citi account # and routing number don't have to change; what a pain to update all the entities that do auto-debit against my Citi checking account.
the only way id play Citi, is short on any retrace, but even then i have thousands of better possible trades...why bother.
It's funny watching the level 2 on Citi today. Most stocks are blocks of 100, 200 or 1,000 I see lots of orders of 10,000, 20,000 and even 40,000 coming over for Citi LOL
Shouldn't this thread be closed since Citi is a Penny Stock? They are not allowed to be discussed at ET. OR Will ET scramble to modify the TOS like the exchanges are to sub $1 stocks not becoming delisted
Hum...I remember Bernanke saying "too big to fail" ? So hedgies have to sell it off to ZERO, I guess ?
Wall Street's dollar menu GE 3/5/08: $33.55 Today: $6.79 BAC 3/5/08: $37.55 Today: $3.23 GM 3/5/08: $22.97 Today: $1.85 C 3/5/08: $22.15 Today: $0.97 AIG 3/5/08: $44.61 Today: $0.38
Probably the most incredible era since the end of the middle ages is upon us. A 500 years cycle seems about right actually. That is how long the Roman Republic lasted (about that).