Not everyone believes that Citigroup’s (C) current stock sale of $4.5 billion will end the large bank’s need for capital.
Oppenheimer analyst Meredith Whitney thinks that ongoing problems at the firm will lead it to sell asset or need to raise another $10 billion to $15 billion according to Reuters.
On the face of it, that could dilute current Citi shareholders by another 12% or more. The news of the $4.5 billion has taken the stock down over 3% to $25.51.
If Whitney is right, Citi’s stock is moving back under $20.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
