How the mighty have fallen.
In 2007, Citigroup was the world’s biggest bank with a market capitalization of over $300 billion.
Yesterday, on March 5, 2009, their stock traded on the NYSE at 97 cents a share, representing a 98% drop since its height of $55.55 a share on May 18, 2007.
Bigger isn’t necessarily better. The bigger they are, the harder they fall, and Citigroup has fallen hard indeed.