Is Citigroup circling the drain?
Well it happened. Citigroup is at penny stock levels. It just dropped below a dollar per share. $265 billion in equity has been destroyed in the last 6 months. This is a sad day.
NEW YORK (CNNMoney.com) -- Citigroup logged another dismal milestone Thursday, as shares of the beleaguered bank slipped below $1 a share.
The move, which may have seemed unthinkable just months ago, came as the broader market fell once again toward new 12-year lows due to worries about the health of the banking sector and the broader economy.