Post Split Citigroup (C) Trades Higher, But Lower
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No that's not a bad print you see in Citigroup (NYSE: C). Today the shares started trading on a split-adjusted basis after its 1-for-10 reverse stock split.
Citigroup is trading at $44.91 in pre-open trading, which is below Friday's split-adjusted close of $45.20.
Commenting on the reverse stock split and reinstatement of a quarterly common stock dividend CEO Vikram Pandit said, "Taken together, we believe these actions will reduce volatility while broadening the base of potential investors. Now that we have established consistent profitability, we are working towards our next goal of responsible growth."
Citigroup is trading at $44.91 in pre-open trading, which is below Friday's split-adjusted close of $45.20.
Commenting on the reverse stock split and reinstatement of a quarterly common stock dividend CEO Vikram Pandit said, "Taken together, we believe these actions will reduce volatility while broadening the base of potential investors. Now that we have established consistent profitability, we are working towards our next goal of responsible growth."
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