US$50 billion in market cap erased

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

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