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Fees Could Drop As Citi Parity Trade Nears End

Traders Magazine Online News, April 18, 2011

John D'Antona Jr.

The darling of the day traders is ready to make its final curtain call. After the final bell on May 6, the most widely traded stock will finalize a reverse stock split that will see a tenfold increase in its share price, making it less attractive to short-term traders. Citi is the stock nearing the 10:1 reverse split, which will turn a $4.50 stock into a $45 stock overnight, thus raising the risk parameters for an issue that has helped legions of traders on Wall Street make a quick buck -- from upstairs prop traders to brokers on the floor of the New York Stock Exchange.

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