Citigroup Shares Rally 200% After Trump’s False Q1 M&A Ranking Claim
C•Jane Fraser’s turnaround drove a 200% share rally, aided by AI-driven revenue gains, cost cuts and hiring JPMorgan banker Vis Raghavan. President Trump’s tweet falsely asserted Citigroup topped Q1 M&A advisory by value, sparking a brief share spike though the bank ranked seventh that quarter.
1. Trump Tweet Spurs Brief Stock Spike
President Donald Trump’s Wednesday tweet claimed Citigroup was the number one M&A adviser by Q1 deal value, prompting a brief intraday spike in the bank’s shares even though league tables placed it seventh for the quarter.
2. Fraser’s Turnaround Accelerates Growth
CEO Jane Fraser’s turnaround has delivered a 200% share rally over three years, driven by AI-driven trading revenue gains, targeted cost cuts and the hiring of JPMorgan banker Vis Raghavan to bolster investment banking.
