Citigroup (C) Sets Single-Day Trading Volume Record
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.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- Icahn Seeks Non-Binding Apple (AAPL) Shareholder Vote on Increased Buyback
- Bass' Hayman Capital Said to Take GM (GM) Stake
- After Hours Stock Movers 12/4: (PBYI) (MFRM) (GGP) Higher; (LGP) (SNPS) (ARO) Lower (more...)
Create E-mail Alert Related CategoriesInsiders' Blog, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!