Thursday, January 13, 2011

"Citigroup: Reverse Stock Split a Possibility Soon?"? (C)

The stock is down 3 cents at $5.05. Earnings next week. We are fans.
From MarketBeat:

We just came across this squib from earlier this week in a note from Barclays Capital analyst Jason Goldberg. “With the government now out of its common equity stake, we wonder if [Citi] announces its long awaited reverse stock split in conjunction with [fourth-quarter 2010] earnings,” he wrote.

Quick refresher. Reverse stock splits boost the price by reducing the number of shares outstanding. Back in September 2009, shareholders approved granting the authority for Citigroup to conduct a reverse stock split. We haven’t seen too many other analysts mention the near-term possibility of a split for Citi....MORE