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trader59

03/22/23 8:42 PM

#644 RE: powerbattles #557

Fundamentals are irrelevant on a stock whose depositors and investors are reacting based on emotion. The depositors are spooked, and a lot of them are wanting their money at the same time so they don't lose all of it. That would crush a lot of banks considered healthy, especially when those deposits are invested in things that have been devalued because the fed cranked the interest rates up a lot and quickly. Because the depositors are spooked, investors are spooked, and all the ones who really understand the vulnerability of this bank to failure are hitting the exits. Even if somebody said "we'll buy it," those investors saw the haircut that the Credit Suisse shareholders took from an already tanked PPS.
This stock is for flipping only, and the only way the bank survives is if some way, somehow, the depositors do a 180 and stop asking for their money. Yellen didn't help with that today.