Citigroup (C) shares fell below $1 per share today, cementing its status as a penny stock. Citigroup is now the only stock in the Dow and one of six stocks in the growing list of S&P 500 stocks (AIG, ETFC, ODP, GNW, and THC) currently trading under a dollar. The only question now is when does Citi get pulled from the Dow. Although at this point does it really matter? Consider the fact that if Citi dropped to zero, given its weight in the index, it would have less than an 8 point impact on the overall price of the index.
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Posted by: Penny Stocks | March 17, 2009 at 05:58 AM