Citi Underwriters Step In To Prevent Stock From Falling Below $3

Citi Blind

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.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.