US$50 billion in market cap erased
January 20, 2022 Leave a comment
In another edition of Perspective & Misnomers,
JP Morgan’s stock price has fallen 12% in the past 3 days.
This means its market capitalisation has declined by US$55 billion.
That is the same amount as all of Westpac Bank’s total market capitalisation.
Furthermore, in the past 3 days, 95 million shares of JP Morgan were traded, which is equal to US$15.2 billion worth of stock.
This is equal to 2 days of traded value of the whole Australian Stock Exchange.
That’s a lot of money when you put in it perspective.
Incidentally, JP Morgan’s stock is back to the same price as 11 months ago.
January 20, 2022
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 