S&P falls to new low, Citigroup needs even more money to help prop us the zombie bank. This banks is like a vampire draining money from the tax payers as it tries to return to profits, but it keeps sinking deeper into the financial quicksand that is New York.
The day before yesterday, Citi lost 23% of its value closing at $1.50/share, now people remember that if a stock falls below $1 it is considered a penny stock and cannot be in the S&P index. Also, I believe soon Citi will be dropped from the Dow. The troubled financial giant has lost since 2008 over 94% of its value. Will things get worse in the future - you can BANK on it.
No comments:
Post a Comment