First Republic stock down 70% today...next one to go?

[PaceAdvantage]

Trading halted...

https://www.cnbc.com/2023/03/13/firs...s-decline.html

First Republic said Sunday it had received additional liquidity from the Federal Reserve and JPMorgan Chase.

The bank said the move raises its unused liquidity to $70 billion, before any funding it could get from a new Fed facility.

The Federal Reserve created a new Bank Term Funding Program that will offer loans for up to a year to banks in return for high quality collateral like Treasurys.

[Valuist]

Don't think so. Looks like the shorts jumped to conclusions. OMG its a regional bank in SF, it must be taken over by regulators shortly!

I heard rumblings about Silicon Valley Bank having potential big problems over a year ago. Haven't heard that about First Republic.

[Valuist]

They had an analyst on Fast Money who covers regional banks. He felt the panic was overdone, and in the long run, people will look back on today and realize it created some good buying opportunities.

[myohmyjustify]

Most of the morning when the chart of both SVB and Signature were shown, it was the given price of Friday's closing price that appeared.

Yet today, Monday, these banks were insolvent and their stock price was factually $0.

I stoppped watching around noon so if anyone on CNBC, Bloomberg or Fox Business noted that these two banks were dead-dead, I did not see this. Just sayin'.

[horses4courses]

paceadvantage.com?

[PaceAdvantage]

Originally Posted by horses4courses

paceadvantage.com?

Unfortunately, this site is a zombie...it can never be killed, no matter how much I try

[PaceAdvantage]

Down 30% on the day this morning....tick tick tick tick