Citigroup stock drops to a 13 year low…
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Citigroup stock drops to a 13 year low…

November 19, 2008 – 6:32 pm – No Comment

Citigroup’s stock fell today more than 20% to $6.40 a share. This is the lowest stock price that the group has seen since 1995.

I guess this means that investors don’t believe the cost-cutting measures Citi has announced in the last couple of months won’t work…or won’t bring the company back to life.

I would really hate to see Citigroup be sold to Chase (it really seems like Chase is buying a lot of failing banks) or Wells Fargo (that would be ironic).

You can read more about the recent events leading up to Citigroup’s troubles here.

Jeremy
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