Citi Says Stretched Positioning Set to Fuel US Stock Pullback [Yahoo! Finance]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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citigroup.com/citi/investor/pres.htm
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Source: Yahoo! Finance
(Bloomberg) -- Any further weakness in the US stock market could be exacerbated as investors offload their large long futures position, according to Citigroup Inc. strategists. Most Read from Bloomberg Beyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI Trump Media's $5.3 Billion Selloff Deepens as 270% Rally Fizzles S&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets Wrap Iran's Attack on Israel Sparks Race to Avert a Full-Blown War Apple Faces Worst iPhone Slump Since Covid as Rivals Rise There are $52 billion of long positions on the S&P 500 and 88% of them are in loss, a situation strategist Chris Montagu sees as a risk for the market. “Long unwinds on the S&P have mainly been profit-taking transactions, but the remaining longs now are on average 0.8% in loss,” he wrote in a note. “Should the market turn negative, the move could be faster and larger due to the large, long positions already in the red.” The US stock benchmark has
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- 4/29/24 - Form FWP
- C's page on the SEC website