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Citi Stock at Decade Low Below $10; Rumored to Be Acquiring Chevy Chase Bank

Citi Stock at Decade Low Below $10; Rumored to Be Acquiring Chevy Chase Bank

Author: Sam Cass on November 14, 2008 - modified on August 3, 2017

Citigroup's stock fell below $10 in trading today, hitting a level not seen since the mid-90s. There are also rumors Citi may be purchasing Chevy Chase bank. Looking at their stock chart I'm not sure they should be buying anyone.

Citigroup's stock fell below $10 in trading today. It is now trading at 10 year low. This does not look like a healthy bank to me and analysts are expecting another round of large losses when earnings are reported.

CitibankStockTrend

Amidst all of this, Citi is reportedly in talks to acquire Maryland based Chevy Chase bank. I guess as long as Chevy Chase's stock is also down it's a wash from a valuation standpoint. Still, one has to wonder about the wisdom of acquiring banks. Is that really what Citi should be focused on now? I don't know about you, but to me their stock chart looks an awful lot like several other banks that are no longer with us.