Citigroup could see its shares rally by 100 percent or sink to nothing, investor Marc Faber told CNBC Friday.
"We've gone down from over $55 to $4 (a share), you could easily see a bounce of 100 percent before the stock goes to zero," Faber said.
"The rebound potential is very considerable," he added.
Citi [C 4.71 -1.69 (-26.39%) ] shares closed at $4.71 on Thursday, having slumped over 26 percent during the session. The bank also lost 23 percent in Wednesday's session.
Financial stocks lack transparency, making it difficult to predict the share price of a company like Citi, Faber said.
"I don't think financial stocks will be the leaders of the next bull market … the earnings power of financials companies will not come back for many many years," he said.
(Watch the full interview with Marc Faber above).
"We've gone down from over $55 to $4 (a share), you could easily see a bounce of 100 percent before the stock goes to zero," Faber said.
"The rebound potential is very considerable," he added.
Citi [C 4.71 -1.69 (-26.39%) ] shares closed at $4.71 on Thursday, having slumped over 26 percent during the session. The bank also lost 23 percent in Wednesday's session.
Financial stocks lack transparency, making it difficult to predict the share price of a company like Citi, Faber said.
"I don't think financial stocks will be the leaders of the next bull market … the earnings power of financials companies will not come back for many many years," he said.
(Watch the full interview with Marc Faber above).
