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Citi's in for More Pain |
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| Jul 14, 2008 12:10 PM UTC |
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Tracked Blogger
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Via Short Stock Ideas from Seeking Alpha:
Many of the largest publicly held companies have seen their stock prices take a nose dive. The problems with the massive depreciation is after a stock is down that amount, many average investors start to dive in. This reminds me of a time when Tyco had lost over half of its value. A large corporation that had turned itself from a small business, had become a conglomerate that could easily compare itself to GE (GE). Even though this company had a great history, it was eventually going to lose yet another half of its value. No one could have seen that their CEO would go to prison, or that they had lied on their financials, just like all of the other companies, or at least most, on the Street. I had believed that the stock had to go up after its massive fall and although I received compensation from the lawsuit, I was still sitting their with a $2,200 loss. 
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