It's quite unusual to see a company trade this far below book value, but a still-weak U.S. economy, coupled with deep distress in Europe, has many investors spooked about banking stocks right now.
Citigroup (C) is one of a number of banks selling below book right now. Yet as the storms clouds pass, shares of Citigroup are likely to trade up to at least book value (representing more than 70% upside).
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