Well, we aren’t going to nationalize it but the Treasury will take 75% stake in Citibank knocking the investors value out the window.
Taking common equity. This basically gives us a value of 0 for the common stock. Preffered stock has no dividends, it is over.
Old Soviet Union is jealous.
Looking for this to go to 730 and if we clear the gap at 750 a possibility of a break to new lows in to the close.
Watch out of low cumulative volume on the bid ask if a sell off is coming on.
Watching for a break down from here. Probably occur on Friday. Who would want to hold in to the weekend.
No good news around the corner.