Goldman Sachs downgrades Citigroup (C) today
Market Update: 2008-06-26
Possibly some good news for bank stocks on a bummer day in the markets (or at least good news if you are a contrarian investor like myself). As of yesterday's close, Citigroup (C) had plummeted 66% from its all-time record high that was made 18 months ago. This morning, Goldman Sachs announced that they were downgrading Citigroup to a SELL rating!
Congratulations to the sharp analyst at Goldman Sachs who made this call. Too bad Goldman couldn't have warned their clients to sell Citigroup 18 months ago, before they all lost 66%. I wonder when that bright, and surely Ivy League-educated Goldman Sachs analyst will advise Goldman's clients to buy Citigroup again? Maybe after it doubles in the next few years? We will know more from those bright guys and gals at Goldman later. Until then, Happy Investing!
Gregory
Possibly some good news for bank stocks on a bummer day in the markets (or at least good news if you are a contrarian investor like myself). As of yesterday's close, Citigroup (C) had plummeted 66% from its all-time record high that was made 18 months ago. This morning, Goldman Sachs announced that they were downgrading Citigroup to a SELL rating!
Congratulations to the sharp analyst at Goldman Sachs who made this call. Too bad Goldman couldn't have warned their clients to sell Citigroup 18 months ago, before they all lost 66%. I wonder when that bright, and surely Ivy League-educated Goldman Sachs analyst will advise Goldman's clients to buy Citigroup again? Maybe after it doubles in the next few years? We will know more from those bright guys and gals at Goldman later. Until then, Happy Investing!
Gregory
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