Traders return to their desks tomorrow following Friday's selloff

Published: March 19 2023, 17:00 GMT+0

Traders return to their desks tomorrow following Friday's selloff

  • First Republic Bank suffered relatively more than others Friday after 32.8% dip As things stand, GoHealth (down 24.46%) and Bright Health (down 12.19%) are underperforming today
  • European markets were down Friday as CAC retreats to 6,925.4 (down 1.43%).

A reminder of where Friday ended before the next session begins: leading equity indices in the US declined as Dow Jones slipped 1.19% and closed at 31,862. S&P 500 was down 1.1% before closing the session at 3,916.64.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets were down Friday as CAC is down by 1.43%, retreats to 6,925.4 upbeat Asia-Pacific markets ended Friday higher as Nikkei is up by 1.2%, hitting 27,334.

Friday's bearishness meant that First Republic Bank lost 32.8% Friday before closing at $23.03. As things stand, GoHealth (down 24.46%), Bright Health (down 12.19%) are also underperforming today.

Bright Health | Closed 3.82 cents (-12.19%) lower at 27.51 cents

Bright Health Group Inc.'s bearish run has lasted 5 days so far (-17.73 cents). Friday's session continued down the same path: during Friday's session, Bright Health toiled and struggled for upward momentum before closing at 27.51 cents. By the close, the the health insurance provider suffered a 3.82 cents or 12.19% loss. Daily trading volume (11.44 million shares) was above the current multiday average of 2.94 million.

Friday's 32.8% loss extends a 7 day bearish run in which First Republic Bank had already lost $88.95 from its share value. Daily trading volume (139.67 million shares) was higher than the current multiday average of 10.72 million. First Republic Bank disclosed a quarterly dividend of 27 cents per share on Friday, January 13th that was paid on Thursday, February 9th to all shareholders of record up until Thursday, January 26th. Based on current prices, the company's decision thereby provides First Republic Bank investors with an annual dividend yield of 4.69%.

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