glimmero
2023-03-16

$(FRC)$

If you bought in recently, then sell. The only people with a valid reason to hold on at this point are people who owned it at $100+. They should have sold Thursday, but they didn't and realistically they're down so far they may as well hold on for a miracle. The rest of the people buying over the last few days bought into a dead bank walking, and will lose unnecessarily... banks don't recover from lack of confidence.

Honestly, you could have burnt the cash for warmth. At least that would be a "return." The bank has 13B in tangible book value and 160B+ in deposit liabilities. If these facts confuse you or don't seem problematic, then buying equity in a bank was not the right sandbox. Truly, you should sell that back if you can tomorrow and buy VOO or VTI.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
40