Surge of retail investors buy Citigroup shares

04/2/2009 | Wall Street Journal, The

Discount-brokerage firms are seeing a surge in trading activity for Citigroup shares. TradeKing in Boca Raton, Fla., said 3.4 million shares of the bank were traded in February, while 9.3 million shares were traded in March. "Most brokerage customers are looking at a portfolio down 50% from a year ago and thinking that they have to get even," said Don Montanaro, chairman and CEO of TradeKing. "The self-directed are becoming more active, and that's the kind of behavior we're seeing with Citigroup."

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