Question

What happened to citibank (C) stock price today?

jump from $4 something to $44 something? Is it real?

Answers

Yes it is real. Citibank did what is known as a reverse stock split. Reducing the number of Citibanks outstanding shares from 29 billion to 2.9 billion. So if you owned 100 shares of Citibank stock you now own 10 shares of Citibank stock, by doing a 10 to 1 reverse split they were able to raise the price of the stock 10 times it'd previous value.

#1

Reverse stock split, so that the stock would be more attractive to institutional investors. Often hedge funds and mutual funds shy away from stocks priced under $10.

#2

Reverse split, 10 shares became one share at 10 times the price. Nothing really happened, they're just trading dollar bills for ten dollar bills that's all.

This has been in the news for months now, where have you been? Under a rock?

#3