The Citigroup Rally

Citigroup (C) was up 76 cents on Monday, which doesn’t sound like much but it’s a 25% gain. Thanks to Goldman’s news, the stock will probably break $4 on Tuesday.
Looking over the past few weeks, the stock has had a wild ride. On March 5, Citi dropped to just 97 cents a share. One month before that, it was at $4 a share. Obviously, this isn’t much of a rally; it’s more accurate to say that the stock has backed off from peering into the abyss,
Citi reports this Friday. I have no idea what to expect. How’s this for a wide range? The Street high is a 14 cent profit. The low is $1.14 loss. Pardon me while I get my darts.

Posted by on April 14th, 2009 at 12:38 am


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