Citigroup is down to $1.50 a share amid an agreement with the Federal government to convert 25 billion in preferred stock to common stock. Citi also announced that they will not be paying a dividend. There is no reason whatsoever to own Citigroup stock. The stock is worthless. if you want to see Dow’s future, look at AIG.
Dow Chemical (DOW) sank below $7.20 today. Every day it seems like Dow Chemical sets a new low. Dow needs to eliminate its dividend altogether to save capital.
