Charge it on Citigroup
Despite the reverse stock split on Citigroup (NYSE:C) it shares continue to suffer with word yesterday hackers charged up the company credit at its customers expense.
Citi (C) shares are down 10% since the May 9th split, closing at $39.99 today. Citigroup Inc ' shares are 9.48% away from its 52-week low and trading with a P/E Ratio of 12.8.
Yesterday Citigroup Inc. told government officials that about 3,400 of the customers whose credit-card information was hacked have suffered about $2.7 million in losses, according to people familiar with the matter.
The disclosure is the first acknowledgment by the New York company that the May security breach resulted in any losses.
Despite the negative press Citi shares did manage to gain 1% during Monday's trading.