By early 2009, Citigroup’s stock price was trading at 99 cents. The bank’s shakiness and its counterparty relationships with other major global banks played a key role in bringing down Wall Street. As insane as it may seem to rationale Americans, federal regulators have allowed...
Third, despite the unprecedented infusions of capital, guarantees and secret loans from the Fed, Citigroup’s share price sank to 99 cents in the spring of 2009. In a clever maneuver to dress up its share price and remove the beaten-down appearance of a single digit stock, eff...
Today, Citigroup’s stock price is still down more than 89 percent from where it was in 2003 when Weill stepped down as CEO. (To dress up its stock price, Citigroup did a 1-for-10 reverse split on May 9, 2011, leaving shareholders with 1 sha...
Citigroup did a 1-for-10 reverse stock split on May 9, 2011. (For each 100 shares of stock, the shareholder was left with just 10 shares.) At Citigroup’s closing stock price of $48.71 yesterday (actually $4.87 had it not done a 1-for-10 reverse stock spl...
selling securities to meet margin calls is that there are a vast number of ways that large traders could be losing money and an equally vast arena of related exposures. There could be related currency losses; related derivative losses; related stock portfolio...
“In the 1980s, a finance professor named David Whitcomb and James Hawkes, a computer engineer who taught at the College of Charleston in South Carolina, had devised algorithms to predict the outcomes of horse races. They eventually applied those same algos to the stock market and ...
Citigroup’s Board of Directors allowed Weill to sell back to the corporation 5.6 million shares of his stock for $264 million. This eliminated Weill’s risk that his big share sale would drive down his own share prices as he was selling. The Board negotiated...
“First, Wall Street firms issued knowingly false research reports to trumpet the growth prospects for the company and stock price; second, they lined up big institutional clients who were instructed how and when to buy at escalating prices to make the stock price skyrocket ...
Making this overwhelming bullishness on Citigroup all the more suspicious is the fact that Citigroup’s stock chart should make everyone’s hair stand up on the back of their neck. The stock price is still down 87 percent from where it traded in 2007 before it imploded in the ...
“As a result, neither bank had any exposure to Archegos when some of the fund’s highly-levered stock bets went wrong earlier this year, inflicting more than US $10bn of losses on a group of rival lenders.” If that narrative is accurate, then ...