Citigroup Down Nearly 3% After Split (C)

The news for Citigroup C shareholders continues to get worse, as shares are down nearly 3% today, after the company engineered a reverse 1-10 split. At last check, shares were off $1.19 to $44.01, a loss of 2.6% on 40 million shares. Citigroup engineered the 1 for 10 split in order to attract institutional buyers, many of which are forbidden from holding stocks $5 and under.