#8 in the Best Stocks for 2014 Contest: Citigroup (C)
Investor: Greg Harmon
YTD Return: -11%
Financials were a pretty popular theme for the 10 Best Stocks for 2014 contest. Unfortunately, all three picks in the sector are currently sitting in the red … with Greg Harmon’s pick of Citigroup (C) faring the worst.
Originally, Harmon was bullish on Citigroup stock for the one-two punch of fundamental tailwinds for financials and strong technicals for C stock in particular. I guess he didn’t anticipate a one-two punch in the other direction. Between broader market weakness and yet another earnings miss, Citigroup stock has fallen around 8% since the start of 2014.
More specifically, a mid-January release showed adjusted earnings per share tallied 82 cents in the most recent quarter, while analysts were expecting 95 cents. Citigroup stock fell more than 4% on the release, and has continued a slow downward slide ever since.