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Old 06-02-2010, 04:02 AM   Nav to Top  #1
StocksonWallStreet
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Default Citigroup (C)

Bill Ackerman announced last week that his hedge fund, Pershing Square Capital Management has acquired about 150 millions shares of Citigroup over the past few weeks. I am now announcing that this is another great buying opportunity for Citigroup (C). Main reasons are that supply begets demand; the government was easily able to dump off their shares and reload. This shows that there are many buyers interested in Citi out there. Bill Ackerman was the first but many big institutions are starting to catch on. This stock is well behind the rest of the banks due to the large government sell-off the past few weeks. This might have held the stock back for a little bit but long-term it will only strengthen Citi’s position. What I believe you should do is buy Citi and hold it for 2 years not 2 months. Just wait this stock will begin to soar once the government sells off most of its shares and gets to around 10% ownership range. Once this happens big institutions will jump on the stock and jump on big, buying not millions of shares but billions. Citi use to be a $50 stock, I am not saying it will go back to that level but I definitely believe it can get back to the $10 price range. They have a market cap of $80 billion, daily trading volume of 3 billion shares, have made billions of dollars in revenue the past 5 years, and have enough shares to give everyone in the world 4 each, 22.86 billion shares to be exact. Citi has restructured it business successfully which in the end will lead to a more stable revenue stream. Overall Citi is an attractive investment that everyone should capitalize on, make sure not to miss out.

Read full article at:Citigroup is Going Up: Government Out, Hedge Funds In : Stocks on Wall Street
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Old 06-07-2010, 02:02 PM   Nav to Top  #2
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Citi group isn't exactly a penny stock.
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Old 06-13-2010, 05:07 PM   Nav to Top  #3
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Long C in my roth IRA. I am still a buyer of it. As the government sells shares the stock will get hammered. Speculative long term play on citi.
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Old 06-14-2010, 03:53 AM   Nav to Top  #4
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I don't think the stock will get hammered that bad as once the government slowly gets rid of shares more and more big institutions will look to become serious buyers.
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Old 06-15-2010, 08:01 PM   Nav to Top  #5
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I agree with you. I also think C will see the better future. But with recent European financial trouble, I wonder if banking stocks are safe to buy, just yet.
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Old 06-16-2010, 11:31 AM   Nav to Top  #6
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Originally Posted by findstock View Post
I agree with you. I also think C will see the better future. But with recent European financial trouble, I wonder if banking stocks are safe to buy, just yet.
Long-term I still think banking stocks are safe, don't buy Goldman right now though.

Everyone Likes to Hate on Goldman Sachs Hurting their Short-Term Value : Stocks on Wall Street
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Old 06-16-2010, 01:06 PM   Nav to Top  #7
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Originally Posted by StocksonWallStreet View Post
Citi group isn't exactly a penny stock.
Meh... Penny stocks are over rated and over followed. I like stocks where I can manage my risk. Sooner or later penny stock traders learn the hard way. Usually sooner than later.
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Old 06-16-2010, 02:53 PM   Nav to Top  #8
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With the current management of Citi I wouldn't advise into buying. You can already tell how much that care for their shareholders when they caused their own stock to drop by issuing massive stock to sell and pay back the U.S. Gov. Banks as a whole may be a safe bet and Citi stock may go up but I'd rather invest in proper management.
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Old 06-16-2010, 07:18 PM   Nav to Top  #9
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Disagree I felt management helped resurrect a company that many people thought was doomed for failure.
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Old 06-17-2010, 05:07 PM   Nav to Top  #10
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So you think intentionally issuing millions in shares was a good move? I understand how they used it to pay back the U.S. Gov but it drove the price into the ground. Not a sound plan for me personally.
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