Citigroup 10 for 1 Reverse Spilt, There Goes The Volume
Citigroup Inc.(NYSE:C) has implemented a 10 for 1 reverse split this morning. The stock is now trading at $44.75 a share, however, the value of the company remains the same. The trading volume on the New York Stock Exchange could be effected going forward. Citigroup stock traded an average of 500,000 million shares a day, now the stock would be expected to trade just 50 million shares. It will be interesting to see how this stock will effect the overall volume in the markets.