1Yr·

Heieiei, what's going on at $NYCB sounds to me like the banking crisis reloaded...

Thought we'd put that behind us after the Silicon Valley Bank and First Republic fiasco.

8 Comments

user03@user03

1Yr

The thing has been going downhill since 2004

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Wettyx@Wettyx91

1Yr

What I understood is they grew too much too fast and now they are cutting dividends and reporting losses

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DieEnte7@DieEnte7

1Yr

@Wettyx91 Yes, mostly that. The sour note for me is that they had absorbed the failed Silicon Valley Bank not even a year ago. A hint for contagion effects, probably.

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Wettyx@Wettyx91

1Yr

@DieEnte7 I missed that news, or I would have sold, I think.

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Wettyx@Wettyx91

1Yr

How much do you think it will fall? Around a similar other bank group with those losses? Then we are talking less than 1 per stock

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DieEnte7@DieEnte7

1Yr

@Wettyx91 That I cannot say. It may all be an overreaction and the stock will perform very well the next months. Or, it may be the beginning of another big banking crisis like last year where we see whole companies collapse. Too early to tell.

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Wettyx@Wettyx91

1Yr

Glancy Prongay & Murray LLP announced that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York, captioned Lemm v. New York Community Bancorp, Inc., et al., Case No. 24cv903, on behalf of persons and entities that purchased or otherwise acquired New York Community Bancorp, Inc. securities between March 1, 2023 and January 30, 2024, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

^^^ are you going to participate? Maybe there is a way to partially recover losses

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