Citigroup (C) Sets Single-Day Trading Volume Record
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The day following the pricing of its poorly-received equity offering, shares of Citigroup (NYSE: C) set the single day trading record for an individual stock.
Citigroup traded an amazing 3.766 billion shares today. The prior record was 2.674 billion shares on August 5, 2009, also on Citigroup.
Citigroup sold 5.4 billion shares at the $3.15. The government cancelled their planned sale of $5 billion in shares because the price was too low.
After the offering, Citigroup has about 28 billion shares outstanding.
Speculators now see Citigroup contemplating a reverse stock split to shrink the public float and support the share price.
Shares of Citigroup fell 7.25% today to close at $3.20.
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