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Direxion Daily Financial Bear 3X ETF Message Board

  • oliviah26 oliviah26 May 1, 2009 8:30 PM Flag

    'C' 78ce3nt stock after Gov conversion OUCH!!!

    Citigroup has already taken $45 billion of taxpayer funds through three government rescues, and is trying to avoid a fourth.

    The pending conversion of as much as $25 billion of government-held preferred shares into common stock would give the U.S. a 36 percent stake in Citigroup, while existing shareholders would be diluted by 74 percent. The stock, which has tumbled 95 percent since the end of 2006, fell 8 cents to $2.97 in composite trading on the New York Stock Exchange at 4:09 p.m.

    74% diluted!!!!SELL !!!!!!!!!!!!!!!
    that would make this a 78 cent stock on todays closing.

32.37+1.02(+3.25%)3:38 PMEDT