Tuesday, January 15, 2008

Cramer bailing on Citigroup

Jim Cramer is finally throwing in the towel on his Citigroup shares. He purchased C earlier in 2007 for an average cost basis of $53.47. Holding the shares all the way down, today he has finally seen the light and is recommending it's sale. At about $27 a share, that would be a realized loss of about 50%. Mad Money, indeed.

A

4 comments:

Anonymous said...

Allan,this is similiar to these analysts who downgrade a stock AFTER the stock has lost half it's value.Most of these Wall Street people are useless to traders.
Ron

A said...

Most of these Wall Street people are useless to traders

JJC at the top of the list.

Anonymous said...

That or a new investing strategy....simply SHORT anything Cramer recommends....I'd bet we would make millions.

Dave

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