I already own 1000 sh of Citi at 1.85, but I have some tax refund money ($850). I was going to use it to pay down some Credit Card debt and student loans or should I invenest it in AIG and hope that in the coming months to pay off all my debt.
Sidenote, it will take a few days to get my money into my account to purchase stocks though. Who knows what the price will be then, hopefully more my sake under $2 if I decide to buy.
Sounds like you need the money for better things... This stock is still an all-or-nothing bet (it will jump or dive) and too risky for money that is needed for financial obligations. I'd pay your card down. Look at it this way: you'll be getting a savings of 15% in CC interest (or whatever your rate is) and you'll sleep well at night. :)
Well its just disposable income really, the cc debt or student loans are not hurting me. Really this is money that I have left over from gambling this weekend. When I gamble i just assume that money is gone, at least thats the best way for me to look it. I could see another gamble in AIG, if it jumps from $2 to $4 in the coming weeks, i could sell and pay off twice of what i wouldve originally.
Look hold it. if you track C and AIG side by side they have the same track all day.Sure you could get more shares with AIG than CITI. C is more of a bank and does not need to go back to borrow. When and if AIG has to go back to the well they have to deal with the ignorant Morons congress who have no clue as to what has to be done with AIG.I have 1000 AIG at .795 and bot more today. I think it works higher no doubt. Maybe sell the C keep half your $ for what you want to do and use the rest for AIG.Former specialist stks and options amex 25 yrs. Badge 2005. If you want to BTTW sell c and go aig.