Credit Suisse Whipsaws as CEO Memo Backfires, Analysts Back Bank
- Shares briefly eke out gains after as much as 12% drop earlier
- Market turmoil came after CEO attempted to reassure markets
This article is for subscribers only.
Credit Suisse Group AG shares briefly turned positive in a wild day of trading that saw them drop as much as 12% before climbing back to near where they closed last week.
The stock recovered late on Monday after several analysts published notes bolstering bank executives’ arguments that the firm has ample capital and liquidity to weather the current uncertainty and market volatility. That’s ahead of its second restructuring in as many years.