Chronicles Of Depression 2.0: #280: CapOne
One of the stocks that lagged in closing was Capital One.
All of us have seen their credit card TV ads.
I’m not going to pretend I can parse that information. I just want to point out two things:
1) What it lost today
2) Its 52-week low
If it got that low in the past 52 weeks, why couldn’t it get there again? Especially with this fast-deteriorating situation.
And there is this hanging over it now too: Form 8-K for CAPITAL ONE FINANCIAL CORP, in which they planned to offer 14 million shares at $49/share. Their current stock price is below that. Oops.