Looks like another bank is failing: First Republic Bank.... Its stock price dropped half its value today.

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[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (7 children)

The stock was up to $16 until the earnings report showed deposits had dropped by 40%

[–]In-the-clouds[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (6 children)

I see what you mean.... on this chart. And today the price has tumbled another 29% as of this moment.

Source: https://finance.yahoo.com/quote/FRC

[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

I'm actually considering buying more FRC stock. It's a risky frigging buy, but the potential upside is over 1000%. https://www.msn.com/en-us/money/markets/frc-continues-downward-spiral-as-it-fights-for-survival/ar-AA1anfNc

[–]In-the-clouds[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

You're right that it is a risky buy.... like gambling. I wonder who determines the target prices for these stocks, and then publishes that to the public internet.... and if they are being honest in their projections.

[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It is straight up gambling, and not a safe bet. Those shares are either at a deep discount or it's a money hole, and nobody knows for sure which way it will go.

Market analysis isn't an exact science. That upside potential is if the stock fully recovers back to its previous levels. That's the best case scenario but it's by no means assured. There isn't even a path back to that right now, everything is up in the air.

I certainly wouldn't recommend this stock, but I enjoy gambling.

[–]In-the-clouds[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

And remember Silicon Valley Bank, which collapsed a month ago, was publicly rated by Forbes as being one of the best banks. Were they being honest?

[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Makes ya wonder. I used to take Motley Fool advice, they had done well historically, but then all their buy recommendations ended up being spectacular losers.

I generally ignore the "experts" now. Their advice certainly does seem self serving.

[–]Musky 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Oof.

[–]In-the-clouds[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It was just a month ago we had the second largest bank failure in US history.