Citigroup (C)

On Bloomberg this morning, Citigroup Inc. CEO Vikram Pandit said the Treasury Department will be free to sell its 27% stake in the bank starting next week and that he “wouldn’t be surprised” if the government were considering a sale. “I wouldn’t be surprised if they would actively think about something,” given where the stock is trading, he said.
The stock closed yesterday @ $ 4.18. The past few days have seen massive volume, an average of 1.2 billion shares. The Treasury was caught napping last October when the stock traded @ $5.00. They could have made a move to sell it all then, for a $13 billion profit!

Mar 12 · 8:28:00 AM
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by Jerry Byrne