Interesting footnote to the disastrous Citi offering (which Bob Pisani reminds us is the biggest equity offering in US history, so that’s awesome!): the underwriters had to step in and snap up shares to prevent the stock from going below $3.
CNBC’s David Faber reported the news just now, and it may continue to spook the markets.
If the stock does fall below $3 — and it certainly may, perhaps even today — it will signal that the decision to let Citi repay TARP was either woefully early or woefully late.
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