Citi shares have been punted all over the place since August, even breaking $5 at one point. Yet when actually presented to large institutional investors for the latest offering, Citi was only able to price its shares at $3.15. Thus the real money has spoken, and has killed the speculators. Everything above the yellow area shown below represents froth, which has been blown away. Right now Citi shares are down 7.5% to 3.19.
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See Also:
- Citi Underwriters Step In To Prevent Stock From Falling Below $3
- CITI OFF 8%
- Citi's Secondary Prices Weak, Treasury Holds Back On Dumping Stake To Avoid Flooding The Market