Citigroup is a major financial service provider group based in the New York City. The company was formed after the merger between The Citicorp and Travelers Group in April 1998. The company is the primary dealer when it comes to US treasury based securities and has been operating on the DOW since 1997.
The stock price of the Citicorp in January 1998 opened at $54.00 and closed at $49.56. The highest stock price reported in the month was at $54.38 with the lowest being $45.13 and the volume being traded at $7,562,600. The adjusted closing stock price for splits and dividends for the month stood at $17.33. In April 1998, the month of the merger the opening price was at $60.44, the closing price was at $61.19 with the highest price $73.50 and the lowest price $59.19. The volume traded was $10,441,700, with the adjusted closing stock price as $21.49. Two years after the merger in April 2000, the opening price was at $60.00, the closing price was at $59.00 with the volume being traded $15,572,900. The highest and the lowest prices were at $65.44 & $56.00 respectively with the adjusted closing price at $31.81.
The stock price analysis depicts that the stock price for Citicorp increased after the merger of the Citibank with Travelers Group. However two years down the line the stock price for the company reduced relative to the year of the merger depicting a stable stock position.
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