Why Charles Schwab Stock Tumbled on Thursday
Charles Schwab(SCHW) The Motley Fool·2024-09-13 05:51
A new analyst hold recommendation did nothing to make the company more attractive.Beware of faint praise from an equity analyst: It can often trigger a sell-off in a stock. That's what happened Thursday with Charles Schwab (SCHW -2.63%) when investors disseminated news of a prominent bank initiating coverage of the brokerage with a rather "blah" recommendation. Schwab lost nearly 3% of its value across that trading session, comparing unfavorably to the 0.8% rise of the S&P 500 index on the day.Wells weighs ...