Saudi prince buys, but Citi stock plunges – Nov. 20, 2008


Shares of Citigroup (C, Fortune 500) cratered 26%, extending the brutal losses from Wednesday, when the stock lost nearly a quarter of its value.

So far this year, Citigroup stock is down 83%.

The Wall Street Journal, citing sources familiar with the situation, reported Thursday night that Citi executives were set to meet Friday to discuss their options, including selling off pieces of the company to raise capital.

The move by Alwaleed, a long-time investor in the New York-based bank, follows the U.S. government's decision to inject some $25 billion. That left Alwaleed with about a 4% stake in Citigroup.

Alwaleed, in a press release from his holding company, expressed his faith in Citigroup management, including CEO Vikram Pandit. He added that he believed the company was doing what is necessary to weather the current economic crisis.

via Saudi prince buys, but Citi stock plunges – Nov. 20, 2008

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Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 21, 2008, in Bank Stocks, Financial Markets, Global, Investments, Meltdown, US and tagged , , , , . Bookmark the permalink. Leave a comment.

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