Shares of this financial services name dropped nearly 13% on Thursday. Analysts believe the sell-off presents an attractive entry point.
Financial services stocks took a spill as SVB Financial Group's distress cued a sell-off in banks, but investors should use the decline to snap up shares of Charles Schwab on the cheap. Charles Schwab shares dipped more than 7% on Friday morning, following a nearly 13% decline during Thursday's trading session.
mountain Significant decline in Charles Schwab shares following SVB Financial's announcement The significant drop in financial services stocks has been fueled by a massive sell-off of tech-focused bank SVB Financial's shares. Investors lost confidence in SVB after it announced a plan to raise more than $2 billion in capital to help offset losses on bond sales. The concern spread to the overall financial sector, which dropped 4.1% Thursday for its worst day since June 2020.
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Analysts downgrade SVB Financial as uncertainty around tech-focused bank loomsConfidence around the stock dropped after SVB Financial announced a plan to raise more than $2 billion in capital to help offset losses on bond sales.
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SVB Financial issues are unlikely to spread to other banks, Wall Street analysts sayShares of SVB dropped 60% on Thursday, sparking a wider sell-off among bank stocks.
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Bank carnage drags stocks lower as SVB Financial shares plungeA brutal day for banks drags down stocks on Thursday.
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SVB Financial shares slide again on concerns over balance sheetShares of SVB Financial Group tumbled 40% in premarket trading on Friday, piling on to steep losses logged a day earlier after the embattled lender's plans for a capital-raise fueled concerns about the strength of its balance sheet.
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SVB stock price crashes 60% after bond firesale spurs lossesSVB plummets 38% after higher interest rates spark billions in losses on a $21 billion bond portfolio
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SVB Financial stock slides 42% premarket as fears of a potential run on the bank continueSVB Financial Group the parent of Silicon Valley Bank, saw its stock tumble more than 42% in premarket trade Friday, in a continued response to reports late...
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