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E*TRADE Financial Corporation Message Board

  • racebanner2 racebanner2 Mar 16, 2013 4:36 AM Flag

    Did Citigroup purchase 27 million ETFC shares for $11.28 per share?

    The SEC filings appear to indicate shares sold for $11.28 per share. Will Citigroup make a tender offer for the rest of the company? Do they have retail brokerage?

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    • It looks like Citigroup is an underwriterand will be selling shares to the public ! This could be that they already sold them before and sold short , not will cover shorts and go lower , that is what they did on friday ! They dropped lower .20 ( - 1.80 % ) ! This is a very dangerous for investors situation , when they will be screwed !

      Sentiment: Strong Sell

    • No, Citibank funded a private offering for the shares among their investment clients. If the shares went on the market from there it's because those customers sold them themselves. Citi might have kept a small bit for their own funds, but I doubt they kept more than a fraction of what they brokered out.

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