Citigroup, ticker C, is rallying after the company announced plans for a follow-on offering to exit the government's ownership position in the company. Obviously the market likes the announcement, and I concur with the following points: the deal removes stigma of government ownership, the deal removes conflicts between company interests and taxpayers' interests, it removes a known large seller, and it likely increases ownership by funds. All-in, a positive announcement that likely takes some time to exhibit its deeper benefits.
No plans to change my ~4% position.
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