Some traders are playing the trouble in the financial sector by buying beaten up Schwab shares
Some traders are using the recent pullback in financial stocks to scoop up shares of what they call quality names at bargain prices. That includes Charles Schwab , down 23% this month, as turmoil rocks the broader financial sector, especially hitting regional banks. But Hightower Advisors' chief investment strategist and portfolio manager Stephanie Link is capitalizing on the pullback to buy what she views as "blue-chip quality" names trading at fire sale prices.
mountain Schwab shares gain 7% on Tuesday Ritholtz Wealth Management's Josh Brown agreed with Link on Schwab, saying that investors are failing to understand how its status as a brokerage firm sets it apart from Silicon Valley Bank, Signature Bank and Silvergate Capital, all of which failed this month. "If you're actually worried about your money, Schwab should not be the place you're running from," Brown said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Charles Schwab clients poured in $17 billion last week amid bank crisisCharles Schwab clients poured in $17 billion last week as the spiraling bank crisis sent money to a 'safe port in a storm'
Read more »
Traders see growing chance of Fed rate hike in May, pause or cuts thereafterFed-funds futures traders are boosting the odds of a quarter-point rate hike in May, following an anticipated move of a similar size in two days.
Read more »
Stock market news: Traders assess UBS takeover of Credit SuisseUS stocks trade mixed as investors assess banking turmoil after UBS takeover of Credit Suisse
Read more »
Arbitrum Put Options Let Traders Bet on First Day Price ActionDecentralized marketplace CloberDEX is letting traders purchase puts on ARB with strike prices of 50 cents, $1, $2, $4, $8 and $16. By shauryamalwa
Read more »
Stock futures firm as bank tensions ease and traders eye FedU.S. stock futures wer extending gains for the week as anxiety about the banking sector eased and traders eyed the looming Federal Reserve rate decision
Read more »
Treasury yields rise as easing bank angst reduces haven demand, traders eye Fed hikeBond yields rose on Tuesday as traders bet that easing banking sector angst would allow the Federal Reserve to raise interest rates this week.
Read more »