Are investors idiots? This bank is going bankrupt!!! Why are people investing in a bank that cannot even lend money because it is afraid it does not even have a fraction of the capital needed to keep itself solvent.
BK, I tell you, BK.
thank you citi, bought a boatload at 1.00 and just sold most of it for 4..not a bad return for 2 months..probably go alot higher but I am happy and my options exploded....glta plfm.net is my next play for 60 days.
because it should be trading on par with BAC if not higher
the stock was priced for bankruptcy (BAC was also, look at the fucking chart for march) and now you're seeing a correction that is downright painful for those stupid enough to be on the wrong side of this trade
All kidding aside, Ben Bernanke clearly stated that NO BIG BANKS will go bankrupt or fail. No matter what happens, C will emerge at the end of the process. Pure upside potential. Also massive short squeeze potential. Bailout dilution already priced in.