PacWest falls 40% after hours on report bank is weighing sale
Western Alliance – after hours
$21.40 -7.86 -26.58%
https://www.marketwatch.com/investing/stock/wal?mod=search_symbol
PacWest, $PACW, is now worth just $400 million and is officially a penny stock.
The bank was worth nearly $10 billion just over one year ago.
Meanwhile, still no comment from regulators this week.
Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/nuJkQc46AG
— The Kobeissi Letter (@KobeissiLetter) May 3, 2023
BREAKING: Regional Bank stocks are crashing after hours as PacWest, $PACW, says they are looking for a buyer.
– PacWest, $PACW, now down 57%
– Western Alliance Bank, $WAL, now down 30%
– Metropolitan Bank, $MCB, now down 20%
2 hours ago the Fed said the "system is strong."
— The Kobeissi Letter (@KobeissiLetter) May 3, 2023
AC