Citigroup Inc (C): Here’s Why Shares Are Falling

For the first quarter of 2013, Citigroup Inc (NYSE:C) reported revenue of $2.02 billion from Citi-branded credit cards, down 4% from the $2.04 billion in revenue reported for the same period a year earlier . As such, Citigroup Inc (NYSE:C) could use the business, and that’s what investors might be thinking.

Of course, this isn’t breaking, CNBC-style news (I found it buried in a Google Inc (NASDAQ:GOOG) news search), so it’s unlikely the average investor is tracking this, but a small sect of the Citi-obsessed might be, and a pessimistic read of the situation might be exerting some downward pressure on share price.

More likely though, Citigroup Inc (NYSE:C) is just running with the herd, and the herd seems to be charging off a cliff today — something it’s become very fond of doing in the last two weeks. Just remember, Fools, keep your eye on the long term. Focus on the fundamentals of the companies you’re invested in, and leave the market’s short-term gyrations to the day traders.

The article Why Citigroup Is Down Big Today originally appeared on Fool.com and is written by John Grgurich.

Fool contributor John Grgurich owns shares of Citigroup and JPMorgan Chase. Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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