Citigroup Stock Has Lost 16% in the Market Sell-Off. Is It a Buy?
The S&P 500 index (SNPINDEX: ^GSPC) quickly fell into correction territory not too long ago. Dropping alongside the index were the shares of Citigroup (NYSE: C). The big difference between the two sell-offs, however, was that Citigroup fell about twice as much as the S&P 500 index. Does Citigroup's sell-off make it a buy today?The S&P 500 index's sell-off resulted in a decline of more than 10% from its high, which is known as a correction. That swift drop, however, was reversed even more quickly, with the index bouncing back more than 10% in just a single day. There's no way to know if that's just a temporary reprieve, or if the index will start climbing toward new all-time highs. That said, the drop in Citigroup's shares was much worse than that of the index.Image source: Getty Images.Continue reading
The S&P 500 index (SNPINDEX: ^GSPC) quickly fell into correction territory not too long ago. Dropping alongside the index were the shares of Citigroup (NYSE: C). The big difference between the two sell-offs, however, was that Citigroup fell about twice as much as the S&P 500 index. Does Citigroup's sell-off make it a buy today?
The S&P 500 index's sell-off resulted in a decline of more than 10% from its high, which is known as a correction. That swift drop, however, was reversed even more quickly, with the index bouncing back more than 10% in just a single day. There's no way to know if that's just a temporary reprieve, or if the index will start climbing toward new all-time highs. That said, the drop in Citigroup's shares was much worse than that of the index.
Image source: Getty Images.
