Most institutional investors and pension funds are barred from owning stocks below $5. So if Citigroup’s stock remains below that level, it could trigger a wave of selling that would send the share price even lower.
“That’s the danger of crossing that $5 threshold,” says Owen Malcolm, senior vice president of Sanders Financial Management in Atlanta. “They’re (Citigroup) already in trouble. It could get worse.”
I got a feeling their isn’t going to be much to be thankful for next week on Wall Street.