Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. I am always amazed when a bank gets banged for a billion dollars. They talk so much about risk and preservation of capital. Banks are supposed to be safe, and conservative. Navy suits with brown wing-tips driving Toyota Camry’s and taking coffee in the breakroom to pinch a penny.
Then you have Credit Suisse, asleep at the wheel again, set to take billions in losses from Archegos. Add this one to the Luckin Coffee crash, questionable SoftBank deals, a $450 million hit from York Capital, and the Greensill Capital crunch earlier this month. That’s all just since December. I’m pretty sure CEO Thomas Gottstein is eating spoonfuls of Tums for breakfast.
This latest loss stems from Bill Hwang’s private investment firm, Archegos Capital Management, receiving one of the largest margin calls of all-time. You want to see a dead body?
I’ve got four for you,
ViacomCBS
VIAC
, Discovery
DISCA
, GSX Techedu
GSX
,
and
Baidu
BIDU
.
Let’s take a look on Zacks.com to see what I mean.
The recent action on all these stocks has been absolutely terrible. Look at GSX first. This is a stock that popped up to $149.05 on January 27
th
. By mid-March, it was already down to the low $90s. If you thought that was bad, the stock has since tumbled all the way down to the low $30s where it’s trading at on March 30
th
despite a 6% bounce.
So which of these stocks is the value? Which one is in the good graces of our Zacks Rank?
Both ViacomCBS and Baidu are currently Zacks Rank #3 (Hold) stocks.
Every time you share this video, a big bank loses a billion dollars. Follow the author, subscribe to the YouTube channel, twitter
@bartosiastics
, and check out
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for our special report on 7 biotech stocks. For Trending Stocks with Zacks.com, I’m Dave Bartosiak.
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