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Thursday
May122011

Citi Slumps Post Split

If this keeps up, Citigroup may have to consider another reverse split.  In a move that was intended to raise the company's share price, Citigroup's 1:10 reverse stock split that took effect on Monday has only caused pain for shareholders.  The stock is now down 7% since the reverse split's effective date, and it is trading more than three standard deviations below its 50-day moving average.  You have to go all the way back to the early days of the Collapse in October 2007 to find a time when the stock was more oversold.

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