Are you tired of Citigroup yet?
Citigroup continues down the path management decided to take the company and when even those who clearly lack insight about a company cut their views and estimates you know there are huge problems (Citi shares hit 15-year low as analyst cuts view; AP).
Over the past 52-Weeks Citigroup tumbled over 86% and there could be much more forced selling as the sticky little shit at the bottom of the barrel institutional investors are not allowed to hold shares below $5 (really pathetic but they claim it will reduce risk…they fail to realize that the only risk associated with equity markets is their lack of knowledge).
Citigroup breached the ‘magical’ $5 per share level and should they remain at that level for an extended period of time they could drop another 86% and given the management team, mismanagement team to be exact, shares could tumble another 99% to get to fair value (Citigroup’s Move Below $5 Could Trigger Major Selling; CNBC).
The pity investment by Prince Alwaleed bin Talal, Citi’s largest shareholder, who increased his stake from 4% to 5% is just hilarious (Alwaleed to boost Citigroup stake to 5 percent; Reuters).
Yahoo’s CEO may plan to step down but it could be too late as Microsoft has no interest anymore in Yahoo although it may have an interest in the company’s search engine (Ballmer dismisses Yahoo buyout but open on search; AP).
What will happen?
Yahoo may take anything now as it trades at $9 per share and below…the big question is not ‘what will happen’ but ‘why did it happen’.
Why did Yahoo not get rid of its CEO a long time ago?
Finally the Pathetic Three of Detroit got slapped in their face (International Beggar anyone?) and now have to face the consequences for decade long mismanagement…even the idiocy of the socialists may have turned their back (Dems delay auto bailout vote, seek plan from Big 3; AP).
Can it get any worse?
Sure, a mutual fund will get the job done and display even more ignorance and lack of professionalism.
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