Bear Stearns nose dives on rescue plan:
Shares of embattled broker plunges by as much as 53 percent after JPMorgan and NY Fed announce announce plan to provide funding.
NEW YORK (CNNMoney.com) -- Bear Stearns shares lost more than half their value at one point Friday after JPMorgan Chase and the Federal Reserve Bank of New York announced plans to provide short-term financing to the battered Wall Street firm.
Bear Stearns (BSC, Fortune 500) shares plunged as much as 53% before moving off their lows trading nearly 33% lowern (sada opet blizu 50%) .
In a statement, Bear Stearns CEO Alan Schwartz said that despite attempts to confront and dispel these rumors, the company's liquidity position had "significantly deteriorated" in the last 24 hours.
Post je objavljen 14.03.2008. u 15:42 sati.