The Real Deal Miami

Citigroup stock rises after capital injection

November 24, 2008 04:30PM

Citigroup stock rose by 59 percent this afternoon after the
federal government promised to inject $20 billion into the company and
guarantee about $306 billion in troubled assets. The money comes on top of the
$25 billion that Citigroup already received as part of the government’s $700
billion bailout of the financial industry. The company’s shares fell 60 percent
last week to a 16-year low.