The sharp correction of Citigroup’s stock after announcing its new spending initiative may be an overreaction. telisdemos explains why. WSJWhatsNow
Incoming Chief Executive Jane Fraser’s historic appointment last week shed a light on Citigroup’s upside potential. But investors hoping that might spark a rebound were greeted instead by news Monday that “the next phase” of the bank’s investment will be “strengthening” and “transforming” its risk and control environment—and a subsequent 8% correction in the shares over Monday and early Tuesday.
A presentation by the bank detailed $1 billion in investments in 2020. That is roughly 2% of analysts’ forecast for 2020 operating...
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