Morgan Stanley’s 30% Profit Drop Sends Stock Price Down $5.30
Morgan Stanley’s 30% Profit Drop Sends Stock Price Down $5.30
Here are some of the highlights from a morning of trading in the stock market:
– Morgan Stanley (NYSE:MS) had a huge day of trading for the stock market yesterday. This included an impressive gain of 18.5% for its shares, bringing its gains since the beginning of the year to 16.3%. However, today their share price has fallen by just under 5%, losing $3.11 or 5.30% yesterday.
– The stock is no longer able to overcome the huge drop that the market experienced on Friday. At the end of Friday’s session, after the market had plunged through the $30 level, the stock had fallen 14% — from $58.98 down to $48.68. The last time that we saw that many stocks fall through the $30 level on an average day was on February 26th of this year, when the market lost nearly $100 billion or $30.5 billion.
– At the end of the day yesterday, there were only eight stocks that had gained more than 10% in addition to the big gains listed above. Nine out of the ten stocks we checked had fallen in price. The lone gain was a company called Baidu, which gained $1.06 or 10.19%, or $5.70 yesterday.
Baidu’s 10.19% Gain Is Over $5 billion
– With today’s loss, Morgan Stanley now has a $7.6 billion loss for the full year.
– The stock had already lost a significant amount of money this year, having already suffered a $5 billion loss in 2017. This means that Morgan Stanley lost a total of $8 billion in the year-to-date period ending January 30th of this year.
– The company has now lost $6 billion in the first month, which is a record loss for a company in the first month of the year. Morgan Stanley had previously said that it projected to lose $5 billion in the first quarter while the market had already lost $2 billion during its first trading day. In fact, since its March 21st peak, the company has lost $2.4 billion in its first 90 trading