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Citigroup may have another $9 billion in losses
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Posted on
Jun 26 2008 6:15 AM
by
adeal
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Over at Goldman Sachs the firm's research opinion on Citigroup (NYSE: C) took a sharp turn for the worse. According to Reuters, the brokerage said Citi "may incur second-quarter write-downs of $9 billion and raise additional capital." If a new infusion of money into Citi looks anything like the one Barclays (NYSE: BCS) just completed, an capital raise of $10 billion could dilute current shareholder by another 10%. That could drop the US bank's stock below its 52-week low and might take shares under $15.
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