All those analysts ... high flyers, professional, full-time analysts (they do nothing else all day long!) with unparalleled access to the information they need to make accurate prognostications.
So tell me again, how did the lot of them - in perfect lock-step - miss last quarter's SB $11B deal in their unanimous prediction that Citi would report a loss?
How can they all be so blind? Or are they all up to their armpits in brown envelopes and well-greased by secret handshakes?
Call me paranoid, but I'll say it again: The SEC is wasting billions of tax-payer dollars operating as a well-known shangri la for the legal profession's biggest egos. There'll be hell to pay if these termites are allowed to keep eating away at what's left of capital markets' most vital pillar: Trust.
It's so goddamned obvious!
Nothing is wrong. I read the Singapore government fund unloaded a large chuck of its stake (was 9% now 5%) the week before last. That could explain why the stock dropped significantly duing that week. They made a $1B profit on the conversion.
I suspect others that converted shares are also slowly reducing their positions while reaping some nice profits.
I don't think any of this dumping will cause the stock to tank completely, but I do believe it could be what's cuasing it to trade in this range for a while.
Let's see what happens if 3rd quarter earnings are better than expected.
All the so called "retail investors" (us) added together wouldnt be a pimple on this things Azz..when the institutional investors (who are sitting with BILLIONS of shares) decide to make a move, we're all just along for the ride...good thing I bought low...but that doesnt make me a happy camper.....and btw...you want proof??...wait for earnings next month...
I agree. Citi is just stuck in the mud. This stock was so pumped by Cramer than shorted. The usual course that happens after the Cramer pumps.
C is not moving to 5.00 anythime soon. It is becoming a POS in my portfolio