Credit Suisse Share Price Fall: The stock of Switzerland’s financial services company Credit Suisse has reached its all-time low in the market, after which there has been increased concern among investors about the company’s stock. Let us tell you that the company’s CEO Ulrich Koerner has asked the investors of his company for 100 days to fix everything. The company’s CEO took over in July 2022. Apart from this, CEO Ulrich Koerner said that he is going to announce a strategic update on October 27.
so much fall
It is known that 1 year ago the market cap of Credit Suisse was running at $22.3 billion. But today the market value of the company has come down to $ 10.4 billion. Shares of Credit Suisse have registered a decline of 56.2 percent. At present, the stock price of the company is $3.92. The bank’s 5-year CDS has come down to a 10-year high.
15% jump in CDS
Many posts have been seen on Twitter about this company since Monday morning. But the company’s credit default swap (CDS) has seen a jump of 15 percent. Let us tell you that CDS means that what is the probability of default of this company. The company’s CDS used to be 57 bps at the beginning of the year, which has now increased to 247 bps.
message to investors
A message has been given by the company to its investors. The CEO of the company has written in this memo that the share price is not telling the financial condition of the company right. The bank has a strong capital base and liquidity position.
this is the reason
Talking about the performance of the company, 1 year ago Credit Suisse had a market cap of $22.3 billion, which has come down to $10.4 billion today. The company’s market cap has seen a decline of 53 percent in one year. Senior deal-maker Jens Welter left after 27 years and Global Credit Products Daniel McCarthy has resigned.
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