Traders return to their desks tomorrow following Friday's selloff

Published: March 19 2023, 13:00 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 is down by 1.43%, reaching 6,925.4

Before tomorrow's session begins, here is a reminder of where Friday's session left us: leading equity indices in the US declined as Dow Jones closed at 31,862, a 1.19% change. 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 withdraws to 6,925.4 (down 1.43%). Asia-Pacific markets closed higher Friday whilst Nikkei added 1.2% to trade at 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

  • The US health insurance company has lost 15.71% over the last 9 days.

The US health insurance company has lost 15.71% over the last 9 days. So far this year, it has been under-performing the Nasdaq by 43.92%. Bright Health's market cap currently stands at $173.39 million with an average daily volume of 2.94 million shares. $551.42 million was Bright Health's last reported revenue with -34 cents being the current EPS.

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) increased, making up 1,300% of the 21-day average (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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