From CNBC:
Shares of Citigroup are taking another run below $5, a critical point that could trigger mutual funds and pension plans to dump the company.
Most institutional investors—pension funds, endowments and the like—are prohibited from owning stock worth less than $5.
Citi stock is a staple of many such funds and could be battered even further should they decide to jettison the stock if it remains below that crucial level.
Most institutional investors—pension funds, endowments and the like—are prohibited from owning stock worth less than $5.
Citi stock is a staple of many such funds and could be battered even further should they decide to jettison the stock if it remains below that crucial level.
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