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Citigroup Inc. Message Board

  • raypods raypods Jul 21, 2009 1:17 PM Flag

    Opinions: When does this stock drift upward

    I've been monitoring this board for awhile and still have no credible ideas as to when this stock makes an about face. I'd like to hear some rationale opinions. Thanks Rich

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    • Look for a August upswing a few cents to $3.25, my gut feeling.

    • A couple of months ago everybody was pumping the stock and it got to over 4. Now a couple of months later all the news seems to be negative. They beat earnings estimates by selling Smith Barney but had loses on their speculations. The spin seems to drive the stock downward. I agree that upward trend could be in Q4. It seems like summer low and Xmas high is in the cars. JMO

    • After the conversion is done then there should be some clarity. There is a lot of short interest due to the conversion so there is a great deal of speculation about a short squeeze, but I think that is overblown because even if there is massive short covering there is also a giant expansion in the number of common shares. I think the two will cancel each other out. The financials are getting stronger but C is still showing significant operational losses. Realistically, I don't think we'll see any real upward movement until Q4 unless there is some news that changes the fundamentals.

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