Citigroup stock falls below $1 a share

AP ^ | 2009-03-05 | Ieva M. Augstums

[rabscuttle385]

Citigroup stock drops below $1 a share, relaxed NYSE rule allows continued trading.

CHARLOTTE, N.C. (AP) -- Shares of Citigroup Inc., once the nation's most powerful bank, fell below $1 a share Thursday.

The stock fell as low as 97 cents in late morning trading. It was down 11 cents, or 9.7 percent, at $1.02 in mid-afternoon.

New York-based Citi has lost more than 85 percent of its value so far this year, and is down more than 95 percent from a year ago as the bank was pummeled by the financial market crisis.

Citigroup's shares will remain on the New York Stock Exchange. Last week, the NYSE relaxed its listing rules to allow stocks that fall under $1 to still be listed and traded on the exchange.

The exchange said the change was warranted given the "current period of unusual market volatility and decline."

[rabscuttle385]

In other news, tomorrow is FDIC Friday.

[rabscuttle385]

*Ping!*

[txnativegop]

penny stock, Warren buffet will love it, he got his start that way didn’t he?

[rabscuttle385]

penny stock, Warren buffet will love it, he got his start that way didn’t he?

That only works when the company is actually worth something.

[txnativegop]

I thought that Obama had made worthlessness the new measure of success?

[DoughtyOne]

It’s amazing what a beneficial impact talk of nationalizing banks can have.

[rabscuttle385]

I thought that Obama had made worthlessness the new measure of success?

He's certainly leading by example on that one, if you can really call his actions "leadership."

[rabscuttle385]

It’s amazing what a beneficial impact talk of nationalizing banks can have.

We can thank the idiots Graham and Greenspan, among others, for that one.

[Tempest]

And how much is the treasury paying for each share? $5 ???

[txnativegop]

Obama just wanders around aimlessly, constantly repeating “Uh, uh, umm, uh, ummm”

[Titus Quinctius Cincinnatus]

At that price, *I* could buy out Citigroup!

[FlingWingFlyer]

I don’t remember Hussein telling Joe the Plumber that he was going to STEAL the wealth in order to “spread it around.”

[Dallas59]

DOWn 6,604.72 -271.12 -3.94%

[Frantzie]

Buffet is a GUSHING Obama supporter.

[DoughtyOne]

And all the while FoxNews talks about new polls and 60% confidence in Obama. LMAO

Yep, these markets just wreak of confidence don’t they.

[Slapshot68]

“It’s amazing what a beneficial impact talk of nationalizing banks can have.”

No one in the MSM will touch that one.

[pissant]

Should have let this turd go belly up months ago. I can think of many regional and small banks that would have loved to pick its bones clean for bargain prices.

[NeoCaveman]

“It’s amazing what a beneficial impact talk of nationalizing banks can have.”

It got me to dump my JP Morgan Chase weeks ago, despite the fact that seem to be doing OK.

[DoughtyOne]

Well, there have been a number of folks who seem to think it is a good idea. How about talking up the banks instead of trashing them endlessly? Has anyone thought that might be the way to go?

[DoughtyOne]

I’d love to purchase Citibank today, but I know damn well Obama would come out and stick a knife in it’s back tomorrow.