Citigroup (C) Looking At Sale Options As Stock Plunges
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According to reports from the Wall Street Journal, Citigroup (NYSE: C) is weighing the sale of pieces of the organization or the company as a whole as it deals with a plunging stock price.
Thursday's 26% drop in the stock was the worse ever one-day percentage decline, and now executives believe they need to review a range of possible scenarios. Citigroup's board of directors is scheduled to have a formal meeting Friday to discuss the options.
Citi continues to insist that they have a strong capital and liquidity position, but even insider buying from the CEO Pandit, and yesterday's news that Prince Alwaleed will raise is Citi stake back above 5%, can't stop the stock slide - which is at 50% this week alone.
Link to WSJ Article
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