Individual investors have been pouncing on battered bank stocks, pouring money into heavyweights like Bank of America Corp., despite lingering concerns about an industry crisis after several lenders collapsed.
Net purchases of Bank of America stock this year soared to US$769 million, catapulting the financial giant past former darlings like Netflix Inc. and Rivian Automotive Inc., data compiled by Vanda Research show. Retail traders even bought more than $200 million of embattled First Republic Bank stock in that span, according to Vanda.
Users of eToro snapped up shares of Credit Suisse Group AG, BNP Paribas SA and BofA despite big drops, the company’s quarterly data show. The number of users holding Credit Suisse stock surged 242 per cent across the first three months of 2023, while those invested in BofA and BNP Paribas jumped 38 per cent and 36 per cent, respectively.
Similarly, individuals made the majority of their net purchases of Credit Suisse’s US-listed shares over a three-day stretch in March, when the bank was worth more than double Tuesday’s closing price of 89 cents.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Mining Weekly Daily News - North America and South America
Lire la suite »
Another individual arrested in connection with Elnaz Hajtamiri kidnapping caseOntario police have arrested another suspect in connection with the Elnaz Hajtamiri kidnapping case, the force said Wednesday.
Lire la suite »
U.S. bank failures and global forces make commodities volatile in 2023Let’s look at how the price of commodities such as oil, lithium and wheat have moved over the past month and their outlook
Lire la suite »
Bank of Canada surveys find weakening business outlook ahead of next week’s rate decisionThe surveys show Canadians remain nervous about the economy, reinforcing BoC’s pause on rate hikes ahead of its April 12 monetary policy decision
Lire la suite »
China will safeguard yuan and financial stability, central bank governor saysCentral bank governor Yi Gang said China had taken a series of measures to curb financial risks and to guard against systemic financial risks
Lire la suite »
Bank of Canada rate hikes hitting immigrants and millennials hard, boomers not so muchMillennials and immigrants bear the brunt of aggressive interest\u002Drate hikes, but baby boomer homeowners aren\u0027t feeling the pain. Read on.
Lire la suite »