Citigroup Fined by FINRA Over Short Selling; SolarCity Corporation Announces Weak 1st Quarter Forecast

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Citigroup Fined by FINRA Over Short Selling; SolarCity Corporation Announces Weak 1st Quarter Forecast

Citigroup Inc. (NYSE: C) – For an in-depth report on Citigroup Inc. follow:

Citigroup Inc. closed up a modest 1.66% on Wednesday with a little over 30 million shares traded. The stock was one of the most active stocks trading on the NYSE. The small and modest gain on Wednesday came despite the fact that the brokerage has agreed to pay $1.1 million to settle regulatory claims it improperly bought shares of companies after having bet against the same stock days earlier.

Plug Power Inc. (NASDAQ: PLUG) - For an in-depth report on Plug Power Inc. follow:

Shares of Plug Power closed up 4.19% on Wednesday and traded over 52 million shares. Wednesday’s gains were a bounce back from suffering an 8% loss on Tuesday. Tuesday’s losses came after a 3% decline Monday and a 16% drop on March 14. The company recently reported an adjusted quarterly loss of 8 cents a share, on par with the Wall Street forecasts calling for a loss of 8 cents a share. Analysts expect Plug Power to lose another 5 cents a share in the quarter ended March 31.

SolarCity Corporation (NASDAQ: SCTY) - For an in-depth report on SolarCity Corporation follow:

SolarCity Corporation closed down 5.71% on about 8.6 million shares traded on Wednesday. Shares moved south after the company announced a weak forecast for the first quarter. This is despite posting a smaller-than-expected loss in the fourth quarter.  SolarCity posted a loss of 46 cents a quarter, beating analysts' estimates of a loss of 56 cents a share by 10 cents. Revenue jumped 87.2% from the year-ago quarter to $47.3 million. Analysts surveyed by Thomson Reuters expected revenue of $45.28 million for the quarter. For the first quarter SolarCity expects a loss of between 70 cents and 80 cents a share, while analysts expect a smaller loss of 50 cents a share. The company foresees revenue of between $27 million and $29 million for the quarter, compared to analysts' estimates of $45.1 million.

The CannaBusiness Group, Inc. (OTC: CBGI) - For an in-depth report on The CannaBusiness Group, Inc. follow:

Shares of CBGI sank on Wednesday and closed down nearly 30% with almost 32 million shares traded. The stock had one of the largest percentage decreases but also one of the biggest volume boosts in the OTC market. Before pulling back the stock had actually hit a new 52-week high of 45 cents during intra-day trading. Last week the company announced that it had signed a letter of intent with a large Real Estate group in Seattle Washington, this week to close on a joint venture to open a series of state of the art "green friendly" cannabis retail outlets in the downtown Seattle area.


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