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For info, the price of Citigroup has jumped to $3.90 in pre-market trading, another 8c above yesterday's closing price of $3.82. Here's another link trying to explain why this surge in price.
http://blogs.wsj.com/deals/2010/03/09/why-are-citigroup-shares-surging/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fdeals%2Ffeed+%28WSJ.com%3A+Deal+Journal+-+WSJ.com%29
For those thinking whether to dive into the stock now, do bear in mind that come 16th March, the US govt will have to reveal how and when they intend to divest of their 27% stake in the company. It's highly unlikely they'll sell below $4 since they were heavily criticised for trying to trade in the stockmarket when they didn't sell at $5. They bought in at $3.25.
Also, if they state they're selling all 27% at one go, the price will fall... dramatically. A more likely scenario is for them to divest of their stake over a few months and once Citigroup is free of govt control, the price will surge akin to Bank of America. The worst case scenario is for the govt to state they're selling but only towards the end of the year, the price will experience range trading and probably slide downwards slowly.
My personal feel is that buying below $4 is relatively cheap but I don't wish my money to be stuck for too long, so I'm waiting for the announcements before investing further. Cheers.
try this ...
http://www.marketwatch.com/investing/stock/c
hotokee ( Date: 10-Mar-2010 17:21) Posted:
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Go to finance.yahoo.com and at the GET QUOTE box type in "C" for citigroup, the price and chart will appear. Last nite the close is US$3.82 up 38 cents.
niuyear ( Date: 10-Mar-2010 16:07) Posted:
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sorry typo , shld read 'Experts'
My typing skills is veri bad.
niuyear ( Date: 10-Mar-2010 16:04) Posted:
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hi Citi Exerts,
Whats is the stock price now? Is it time to pick up?
Come on, with USA nothing is jialat which is finally not jialat. There is always positive hope in America, though there might not be hope in sinpore where jialat will remain jialat forever. That is why God bless America!! So be hopeful and you will make your bucks.
i wanted to also but i was stupid to use up my us$ into another investment which tied me down for 3 years. i still hold on to ubs and bank of america, jialiat......
blackstreams ( Date: 10-Mar-2010 11:00) Posted:
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There has been a slew of target prices issued by analysts. The highest is by Jim Cramer who sees C reaching $12 by 2012. Concensus is about $6 by 2011. You might wish to ave down a bit more once the govt sells their stake. BTW, the preferred shares issuance was multiple times oversubscribed, which should stabilise the account sheets further. I believe it will surge once the govt stake is sold off. All the best.
jm2212 ( Date: 10-Mar-2010 10:36) Posted:
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citi iS nO bank
i started with $20, keep averaging down, i hope to see it reaches $10 in 3 years time
Few months ago, alot of people were saying that shouldn't touch Citi for next 1/2 year as Govt is selling.
We missed the boat too. I got in at 3.30 but I have higher holding at 4.26 so just breakeven yesterday. A pity didn't buy more. Few weeks back there were already sayings of Soros purchases. Think it was around 3.40+ then.
Wait for correction. It has gone up from 3.28. I missed it because of half-heartedness.
I am vested. Hope it reaches $5.
Great time to buy into Citigroup now. The link below sums up the situation well.
http://www.timesoftheinternet.com/briefs/citigroup-nysec-stock-is-it-a-strong-buy/
jm2212 ( Date: 09-Mar-2010 23:48) Posted:
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time to move up again