If you are looking for a way to learn a bit more about the stock market, Citigroup (ticker: C) is a good place to start. Take a look at Citigroup's tough year:
We see a stock price about cut in half.
But have things hit the bottom? Is the nation's largest bank looking at sunnier days ahead?
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Investment confidence is so screwy right now that a company (Citigroup) announces $5.1 billion in losses and its stock jumps 4.49%. Part of the reason is that Citigroup's stock price is relatively low right now, as the graph above shows, so it might not take much for the shares to rise in value.
Citigroup, the nation's biggest bank, encouraged investors with results that didn't contain any big surprises. The New York-based bank reported a loss of $5.1 billion during the first quarter because of poor bets on mortgages and leveraged loans, but the loss was half the $10 billion recorded for the preceding quarter.
To paraphrase: No surprises and reduced losses is good news. That it could have been worse and wasn't is a sign of strength, investors are saying. Bottom line: There are signs that the stock market is turning around. For the curious minded, Citigroup is a good one to watch.
[Full disclosure: ACSP currently owns stock in Citigroup. See the 'Financial Disclaimer' on the right side of this webpage.]
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