Monday, March 21, 2011

Citigroup Reverse Split: Analysts React (C)

The stock closed down 7 cents at $4.43.
Way back in January MarketBeat had this, from Barclays:
"Citigroup: Reverse Stock Split a Possibility Soon?"? (C)

It's only fitting that we go back to MarktBeat for another quick hit:
More thoughts on that 1-for-10 reverse split that Citigroup announced today.
Melissa Roberts, Keefe, Bruyette & Woods: Bank stocks have sold off on the day of the announcement of a reverse stock split. For the 20 banks that pursued a reverse stock split from 2000 – 2011 YTD, on the day of the announcement of the split, the banks traded down about 2.3% on a median basis....MORE
UPDATED: Citigroup Announces Reverse Stock Split, Resumption of Dividend (C) 
Dick Bove on Citigroup's Revese Split: "...Poorly Thought Out..." (C)