Citigroup shares up 1% on new trend in nail trends
Citigroup (C) rose 1% to $2.50 in early trading on Wednesday after the Wall Street Journal reported that the company is in talks with a nail company that is developing a trend for its customers to change the way they polish nails.
The Journal said that Citigroup is in discussions with the company and is exploring potential uses for the trend.
The company did not immediately respond to CNBC’s request for comment.
Citigroup’s stock is down nearly 30% since the report.
The report comes as the U.S. Federal Reserve is discussing how to raise interest rates this year, and could also be viewed as a potential catalyst for Citigroup stock to surge.
“We’re in a very good position, given our size and position,” said Steven H. Pomerantz, chief financial officer for Citibank.
Citibanks shares closed up 1.2% at $2,099.50, while JPMorgan shares rose 1.7% at 1,831.63.