Cramer Thinks U.S. Could Be Readying Sale of Citigroup (C) Shares
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On CNBC's Stop Trading Jim Cramer said the trading in Citigroup (NYSE: C) suggests to him that the U.S. government is preparing to unload their common share stake in the company.
The U.S. government owns 7,692,307,692 common shares of Citigroup, or 33.6% of outstanding shares. They may sell their stake at anytime, according to the company.
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Comments
zx
Cramer is right... the stock will go up to 25 by January.
Cramers mistake
Citigroup = C Citgroup = CIT On CNBC's Stop Trading Jim Cramer said the trading in Citigroup (NYSE: CIT)
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sale of C's shares
ali on Nov 5, 2009 08:37 PMOK, so the Feds sell their 7.5 bil common shares and what happens? C still owes ALL of its TARP money, the pay czar still controls salaries, the fundamentals still suck. Why will C's common share value rise, please explain.