@carnage4life

It seems to be all about how people feel, rather than any objective criteria. So the claim that economics is a rational science rings hollow. Woo shouldn't run the world.

@carnage4life The reason? We allow banks to "invest" in crypto - and the public doesn't know if they did - and therefore if they have hard currency or assets backing their depositors. Also, after 2008, the public is EXTREMELY wary!

That's just my 2 cents, but I'm sure it's something like that. @donmelton

@carnage4life

It's all made up.

@carnage4life

Correct.

WHO is (short)selling bank stock?

@carnage4life

1. Its "valuation" not value.
2. If A few words of billionaire encouragement convinced dozens of giant billionaire companies to fire random people amounting to 15% of their workforce, its probably also easy to get them to sell some of their stocks to lower some bank "valuation."
3. Biden added 250,000 jobs last month, and 300,000 this month.
4. I think Putin, Theil, Bannon and Musk are driving an economic depression for 2024's Presidential.

@carnage4life banks are complex (and most people writing about them don’t know much about them - including a lot of answers here. Credit Suisse is not a scam but it is a bank that has been poorly run for a long time. I saw a $3B figure for the acquisition but whatever the price the merger is to preserve assets and jobs.

(I worked for a large outsourced to Swissbank and then UBS/Swissbank when they merged back in the 1990’s the scale of the bank then was astonishing)

@carnage4life to directly answer your question bank stock prices are like all stocks today subject to all kinds of pressures. Here I think the simple answer is when it was clear that Credit Suisse was going to be forced into being acquired the stock value plunged as shareholders scrambled to the exits as they are likely going to be wiped out or nearly so in the merger.

(I haven’t looked into the stock and merger terms closely I’d guess also there was all kinds of games with options and shorts)