Shares of this financial services name dropped nearly 13% on Thursday. Analysts believe the sell-off presents an attractive entry point.
Financial services stocks took a spill as SVB Financial Group's distress cued a sell-off in banks, but investors should use the decline to snap up shares of Charles Schwab on the cheap. Charles Schwab shares dipped more than 7% on Friday morning, following a nearly 13% decline during Thursday's trading session.
mountain Significant decline in Charles Schwab shares following SVB Financial's announcement The significant drop in financial services stocks has been fueled by a massive sell-off of tech-focused bank SVB Financial's shares. Investors lost confidence in SVB after it announced a plan to raise more than $2 billion in capital to help offset losses on bond sales. The concern spread to the overall financial sector, which dropped 4.1% Thursday for its worst day since June 2020.
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