A diary of the thought process behind my investment decisions
Last month reports came out that Citigroup would be looking to issue shares in October and that the government would be looking to unload some shares as well. Vikram Pandit pretty much confirmed these rumors during an investor conference. My best guess is that Citigroup will release "better than expected" earnings and follow it with a share sale. Citigroup likely knew earnings were good and wanted to be able to report earnings so there would be more demand for the shares.